IFM Investors Pty Ltd Invests $1.25 Million in Tesla Inc (TSLA) Stock
IFM Investors Pty Ltd bought a new stake in Tesla Inc (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,676 shares of the electric vehicle producer’s stock, valued at approximately $1,254,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in shares of Tesla by 126.6% during the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock valued at $186,601,000 after purchasing an additional 305,596 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tesla by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after purchasing an additional 292,602 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Tesla during the second quarter valued at about $66,601,000. Jasper Ridge Partners L.P. raised its holdings in shares of Tesla by 7,001.5% during the second quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock valued at $58,319,000 after purchasing an additional 159,005 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in shares of Tesla during the second quarter valued at about $52,108,000. Institutional investors and hedge funds own 57.20% of the company’s stock.
In other Tesla news, VP John Douglas Field sold 600 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $301.60, for a total value of $180,960.00. Following the sale, the vice president now directly owns 21,424 shares in the company, valued at approximately $6,461,478.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the completion of the sale, the vice president now owns 1,736 shares in the company, valued at $589,354.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,417 shares of company stock worth $3,694,761 over the last 90 days. 23.10% of the stock is currently owned by corporate insiders.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. Tesla’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. sell-side analysts forecast that Tesla Inc will post -11.38 earnings per share for the current year.
TSLA has been the subject of several recent research reports. Vetr downgraded shares of Tesla from a “hold” rating to a “sell” rating and set a $335.57 target price for the company. in a research report on Tuesday, August 15th. Citigroup upped their price objective on shares of Tesla from $357.00 to $371.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. BidaskClub downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Deutsche Bank reaffirmed a “hold” rating and issued a $320.00 price objective (up from $240.00) on shares of Tesla in a research report on Tuesday, September 5th. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $317.00 price objective on shares of Tesla in a research report on Thursday, September 7th. Thirteen analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $331.04.
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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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