184,178 Shares in Tesla Inc. (TSLA) Acquired by Whale Rock Capital Management LLC
Whale Rock Capital Management LLC purchased a new stake in Tesla Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 184,178 shares of the electric vehicle producer’s stock, valued at approximately $66,601,000. Tesla accounts for 4.7% of Whale Rock Capital Management LLC’s holdings, making the stock its 7th largest position. Whale Rock Capital Management LLC owned approximately 0.11% of Tesla at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in TSLA. Pittenger & Anderson Inc. raised its stake in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares during the period. Winfield Associates Inc. lifted its holdings in Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares in the last quarter. Acropolis Investment Management LLC bought a new position in Tesla during the second quarter worth about $122,000. North Star Investment Management Corp. lifted its holdings in Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in Tesla by 8.7% during the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after acquiring an additional 28 shares in the last quarter. 56.63% of the stock is owned by institutional investors.
Tesla Inc. (NASDAQ:TSLA) traded up 2.09% during midday trading on Wednesday, hitting $355.42. 4,979,074 shares of the stock were exchanged. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $389.61. The firm’s market capitalization is $59.31 billion. The firm’s 50-day moving average price is $354.47 and its 200 day moving average price is $333.05.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) 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 company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted ($1.06) EPS. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year. Analysts expect that Tesla Inc. will post ($6.32) 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 Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the sale, the director now directly owns 158,584 shares in the company, valued at $56,329,036.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Eric Branderiz sold 99 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The disclosure for this sale can be found here. Insiders have sold a total of 49,256 shares of company stock worth $16,756,628 in the last three months. 23.10% of the stock is currently owned by insiders.
TSLA has been the subject of a number of research analyst reports. Vetr raised Tesla from a “buy” rating to a “strong-buy” rating and set a $374.78 target price for the company in a research note on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $180.00 price target (down previously from $190.00) on shares of Tesla in a research report on Monday, July 31st. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Robert W. Baird reiterated an “outperform” rating and set a $368.00 price objective on shares of Tesla in a report on Thursday, August 3rd. Finally, Guggenheim reiterated a “buy” rating and set a $430.00 price objective (up previously from $380.00) on shares of Tesla in a report on Wednesday, July 5th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Tesla has an average rating of “Hold” and an average price target of $325.52.
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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