Fiduciary Trust Co. Invests $182,000 in Tesla Inc. (TSLA) Stock
Fiduciary Trust Co. bought a new position in shares of Tesla Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 503 shares of the electric vehicle producer’s stock, valued at approximately $182,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. raised its holdings in Tesla by 2.2% during the second quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock worth $308,000 after acquiring an additional 18 shares in the last quarter. Meiji Yasuda Life Insurance Co bought a new stake in Tesla during the second quarter worth about $253,000. Synovus Financial Corp raised its holdings in Tesla by 285.4% during the second quarter. Synovus Financial Corp now owns 1,931 shares of the electric vehicle producer’s stock worth $696,000 after acquiring an additional 1,430 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in Tesla by 0.4% during the second quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock worth $309,000 after acquiring an additional 4 shares in the last quarter. Finally, SNS Financial Group LLC bought a new stake in Tesla during the second quarter worth about $294,000. Institutional investors and hedge funds own 56.67% of the company’s stock.
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Tesla Inc. (TSLA) opened at 362.75 on Wednesday. The company’s market capitalization is $60.54 billion. The stock has a 50 day moving average price of $348.47 and a 200-day moving average price of $320.62. Tesla Inc. has a 52 week low of $178.19 and a 52 week high of $386.99.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s revenue for the quarter was up 119.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.06) earnings per share. On average, equities analysts predict that Tesla Inc. will post ($6.26) earnings per share for the current fiscal year.
In other news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the transaction, the director now directly owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock valued at $18,481,047 over the last three months. 23.10% of the stock is currently owned by insiders.
Several analysts recently issued reports on TSLA shares. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $180.00 target price (down previously from $190.00) on shares of Tesla in a report on Wednesday, July 5th. Citigroup Inc. started coverage on Tesla in a report on Thursday, July 20th. They set a “neutral” rating and a $357.00 target price on the stock. Robert W. Baird reiterated an “outperform” rating and set a $368.00 target price on shares of Tesla in a report on Wednesday, July 5th. Vetr upgraded Tesla from a “buy” rating to a “strong-buy” rating and set a $361.76 target price on the stock in a report on Monday, July 10th. Finally, Royal Bank Of Canada reiterated a “market perform” rating and set a $314.00 target price on shares of Tesla in a report on Saturday, June 3rd. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $313.70.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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