Tesla Inc. (TSLA) Holdings Trimmed by Investment Centers of America Inc.
Investment Centers of America Inc. reduced its holdings in shares of Tesla Inc. (NASDAQ:TSLA) by 26.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,553 shares of the electric vehicle producer’s stock after selling 564 shares during the period. Investment Centers of America Inc.’s holdings in Tesla were worth $560,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Great West Life Assurance Co. Can grew its holdings in Tesla by 2.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock worth $25,129,000 after acquiring an additional 1,802 shares during the period. Perigon Wealth Management LLC grew its holdings in Tesla by 0.9% during the 1st quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock worth $2,233,000 after acquiring an additional 74 shares during the period. Vanguard Group Inc. grew its holdings in Tesla by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock worth $1,651,654,000 after acquiring an additional 280,941 shares during the period. Main Street Research LLC acquired a new stake in Tesla during the 2nd quarter worth about $602,000. Finally, CIBC World Markets Inc. grew its holdings in Tesla by 74.2% during the 2nd quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock worth $3,824,000 after acquiring an additional 4,504 shares during the period. Hedge funds and other institutional investors own 56.63% of the company’s stock.
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Tesla Inc. (NASDAQ:TSLA) opened at 379.81 on Monday. The stock’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. The stock’s market capitalization is $63.39 billion.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. Tesla’s quarterly revenue was up 119.6% on a year-over-year basis. During the same period last year, the company posted ($1.06) earnings per share. Equities research analysts anticipate that Tesla Inc. will post ($6.26) EPS for the current fiscal year.
A number of analysts have weighed in on TSLA shares. Goldman Sachs Group, Inc. (The) increased their price target on Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Berenberg Bank upgraded Tesla from a “hold” rating to a “buy” rating and increased their price target for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th. Global Equities Research reiterated a “buy” rating and set a $385.00 price target on shares of Tesla in a report on Tuesday, June 13th. BidaskClub downgraded Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Guggenheim restated a “buy” rating and issued a $430.00 target price (up from $380.00) on shares of Tesla in a research note on Wednesday, July 5th. Eight equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $315.31.
In related news, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the transaction, the director now directly owns 166,164 shares of the company’s stock, valued at $61,095,179.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen T. Jurvetson sold 44,777 shares of the firm’s stock in a transaction on 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 have sold 53,946 shares of company stock valued at $18,481,047 over the last ninety days. 23.10% of the stock is currently owned by corporate insiders.
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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