Tesla Inc. (TSLA) Shares Bought by ProShare Advisors LLC
ProShare Advisors LLC grew its position in Tesla Inc. (NASDAQ:TSLA) by 35.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,450 shares of the electric vehicle producer’s stock after acquiring an additional 12,438 shares during the quarter. ProShare Advisors LLC’s holdings in Tesla were worth $17,158,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of TSLA. Pittenger & Anderson Inc. boosted its holdings in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after acquiring an additional 50 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after acquiring an additional 364 shares during the period. Winfield Associates Inc. boosted its holdings in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after acquiring an additional 150 shares during the period. Acropolis Investment Management LLC acquired a new stake in shares of Tesla in the second quarter valued at approximately $122,000. Finally, North Star Investment Management Corp. boosted its holdings in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after acquiring an additional 9 shares during the period. 56.67% of the stock is owned by institutional investors and hedge funds.
Shares of Tesla Inc. (TSLA) traded up 0.57% during mid-day trading on Friday, reaching $379.81. The company’s stock had a trading volume of 5,420,496 shares. The company’s market capitalization is $63.39 billion. The firm’s 50 day moving average is $352.07 and its 200-day moving average is $323.07. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $386.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted ($1.06) earnings per share. Tesla’s revenue for the quarter was up 119.6% compared to the same quarter last year. Analysts forecast that Tesla Inc. will post ($6.26) EPS for the current year.
In other Tesla news, Director Kimbal Musk sold 4,690 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $367.68, for a total value of $1,724,419.20. Following the transaction, the director now owns 166,164 shares in the company, valued at $61,095,179.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen T. Jurvetson sold 44,777 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the transaction, the director now owns 36,111 shares in the company, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. Insiders have sold 53,946 shares of company stock worth $18,481,047 in the last quarter. 23.10% of the stock is currently owned by corporate insiders.
TSLA has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $180.00 price objective (down from $190.00) on shares of Tesla in a report on Wednesday, July 5th. Citigroup Inc. assumed coverage on Tesla in a research note on Thursday, July 20th. They set a “neutral” rating and a $357.00 price target for the company. Robert W. Baird restated an “outperform” rating and set a $368.00 price target on shares of Tesla in a research note on Wednesday, July 5th. Vetr upgraded Tesla from a “buy” rating to a “strong-buy” rating and set a $361.76 price target for the company in a research note on Monday, July 10th. Finally, Royal Bank Of Canada restated a “market perform” rating and set a $314.00 price target on shares of Tesla in a research note on Saturday, June 3rd. Eight analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $315.31.
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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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