Intellectus Partners LLC Sells 920 Shares of Tesla Inc. (TSLA)
Intellectus Partners LLC trimmed its stake in Tesla Inc. (NASDAQ:TSLA) by 16.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,622 shares of the electric vehicle producer’s stock after selling 920 shares during the quarter. Tesla makes up about 0.8% of Intellectus Partners LLC’s investment portfolio, making the stock its 29th largest holding. Intellectus Partners LLC’s holdings in Tesla were worth $1,671,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Great West Life Assurance Co. Can lifted its stake in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after buying an additional 1,802 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in Tesla by 0.9% in the first quarter. Perigon Wealth Management LLC now owns 8,025 shares of the electric vehicle producer’s stock valued at $2,233,000 after buying an additional 74 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the last quarter. Main Street Research LLC bought a new stake in shares of Tesla during the second quarter valued at about $602,000. Finally, CIBC World Markets Inc. raised its stake in shares of Tesla by 74.2% during the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after purchasing an additional 4,504 shares in the last quarter. Institutional investors own 56.63% of the company’s stock.
In other Tesla news, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $341.69, for a total value of $748,301.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,446 shares of company stock valued at $17,504,929. Corporate insiders own 23.10% of the company’s stock.
Shares of Tesla Inc. (TSLA) traded up 0.1845% during midday trading on Wednesday, hitting $356.2461. The company had a trading volume of 2,848,337 shares. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $389.61. The firm’s market capitalization is $59.45 billion. The firm’s 50-day moving average is $354.57 and its 200-day moving average is $336.53.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s quarterly revenue was up 119.6% on a year-over-year basis. During the same period last year, the company earned ($1.06) earnings per share. On average, analysts predict that Tesla Inc. will post ($6.41) earnings per share for the current fiscal year.
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A number of equities research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Tesla from $317.00 to $379.00 and gave the company an “equal weight” rating in a research note on Monday. Guggenheim restated a “buy” rating and set a $430.00 price objective on shares of Tesla in a research note on Friday, October 6th. Standpoint Research cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Instinet assumed coverage on shares of Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 price objective on the stock. Finally, Nomura assumed coverage on shares of Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 price objective on the stock. Ten research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $326.94.
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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