Cetera Investment Advisers purchased a new position in Tesla Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,141 shares of the electric vehicle producer’s stock, valued at approximately $1,495,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Envestnet Asset Management Inc. boosted its position in shares of Tesla by 70.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,504 shares of the electric vehicle producer’s stock valued at $419,000 after acquiring an additional 621 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Tesla during the 1st quarter valued at approximately $240,000. Neuberger Berman Group LLC boosted its position in shares of Tesla by 45.0% during the 1st quarter. Neuberger Berman Group LLC now owns 5,705 shares of the electric vehicle producer’s stock valued at $1,588,000 after acquiring an additional 1,771 shares during the last quarter. AXA boosted its position in shares of Tesla by 23.3% during the 1st quarter. AXA now owns 2,096 shares of the electric vehicle producer’s stock valued at $583,000 after acquiring an additional 396 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Tesla by 75.9% during the 1st quarter. Teachers Advisors LLC now owns 270,124 shares of the electric vehicle producer’s stock valued at $75,176,000 after acquiring an additional 116,573 shares during the last quarter. Hedge funds and other institutional investors own 56.63% of the company’s stock.

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In related news, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,446 shares of company stock valued at $17,504,929. Insiders own 23.10% of the company’s stock.

TSLA has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $180.00 target price (down from $190.00) on shares of Tesla in a research report on Wednesday, July 5th. Citigroup Inc. initiated coverage on Tesla in a research report on Thursday, July 20th. They set a “neutral” rating and a $357.00 target price for the company. Morgan Stanley reiterated 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 reiterated an “outperform” rating and set a $368.00 target price on shares of Tesla in a research report on Wednesday, July 5th. Finally, Vetr upgraded 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 research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $327.37.

Tesla Inc. (NASDAQ:TSLA) traded down 0.03% during midday trading on Friday, hitting $355.57. The company had a trading volume of 3,540,533 shares. The firm has a 50-day moving average price of $355.31 and a 200-day moving average price of $337.84. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $389.61. The company’s market cap is $59.34 billion.

Tesla (NASDAQ:TSLA) last announced its earnings results 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. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s revenue was up 119.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.06) EPS. Equities analysts anticipate that Tesla Inc. will post ($6.41) EPS for the current year.

About Tesla

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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