Principal Financial Group Inc. grew its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,775 shares of the electric vehicle producer’s stock after acquiring an additional 861 shares during the quarter. Principal Financial Group Inc.’s holdings in Tesla were worth $3,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Winfield Associates Inc. increased its stake in shares of Tesla by 85.2% during the 2nd 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 last quarter. Acropolis Investment Management LLC acquired a new position in shares of Tesla during the 2nd quarter valued at about $122,000. North Star Investment Management Corp. increased its stake in shares of Tesla by 2.8% during the 2nd 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 last quarter. Carroll Financial Associates Inc. increased its stake in shares of Tesla by 8.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after acquiring an additional 28 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Tesla by 1,213.3% during the 1st 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 last quarter. 56.63% of the stock is owned by institutional investors.

TSLA has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $180.00 price objective (down previously from $190.00) on shares of Tesla in a research note on Wednesday, July 5th. Citigroup Inc. initiated coverage on shares of Tesla in a research note on Thursday, July 20th. They set a “neutral” rating and a $357.00 price objective for the company. Morgan Stanley reissued a “hold” rating and set a $317.00 target price on shares of Tesla in a research report on Thursday, September 7th. Robert W. Baird reissued an “outperform” rating and set a $368.00 target price on shares of Tesla in a research report on Wednesday, July 5th. Finally, Vetr raised shares of Tesla from a “buy” rating to a “strong-buy” rating and set a $361.76 target price for the company in a research report on Monday, July 10th. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $324.87.

In other Tesla news, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $355.20, for a total value of $777,888.00. Following the completion of the transaction, the director now directly owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 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 51,446 shares of company stock valued at $17,504,929 in the last quarter. 23.10% of the stock is currently owned by corporate insiders.

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Tesla Inc. (NASDAQ TSLA) opened at 356.88 on Friday. The firm’s market cap is $59.56 billion. The company has a 50 day moving average price of $354.19 and a 200-day moving average price of $334.05. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $389.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.36% and a negative net margin of 7.61%. The firm’s revenue was up 119.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.06) earnings per share. Equities research analysts anticipate that Tesla Inc. will post ($6.28) EPS for the current year.

Tesla 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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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