Belpointe Asset Management LLC Purchases Shares of 719 Tesla Inc (TSLA)
Belpointe Asset Management LLC acquired a new stake in Tesla Inc (NASDAQ:TSLA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 719 shares of the electric vehicle producer’s stock, valued at approximately $245,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC purchased a new position in Tesla during the 3rd quarter worth approximately $100,000. Pittenger & Anderson Inc. lifted its position 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 acquiring an additional 50 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in Tesla during the 3rd quarter worth approximately $106,000. First Eagle Investment Management LLC lifted its position in Tesla by 285.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 405 shares of the electric vehicle producer’s stock worth $146,000 after acquiring an additional 300 shares during the period. Finally, First Personal Financial Services acquired a new stake in Tesla during the 3rd quarter worth approximately $148,000. Institutional investors and hedge funds own 57.20% of the company’s stock.
TSLA has been the subject of a number of recent research reports. BidaskClub cut Tesla from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Deutsche Bank reaffirmed a “hold” rating and set a $320.00 price objective (up from $240.00) on shares of Tesla in a research report on Tuesday, September 5th. Morgan Stanley reissued a “hold” rating and issued a $317.00 price target on shares of Tesla in a report on Thursday, September 7th. Barclays reissued an “underweight” rating and issued a $210.00 price target (up from $165.00) on shares of Tesla in a report on Wednesday, September 13th. Finally, Sanford C. Bernstein reissued a “hold” rating and issued a $265.00 price target on shares of Tesla in a report on Thursday, September 14th. Thirteen analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Tesla has an average rating of “Hold” and a consensus target price of $331.04.
Shares of Tesla Inc (TSLA) opened at $343.45 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66. Tesla Inc has a 1 year low of $197.60 and a 1 year high of $389.61.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. research analysts anticipate that Tesla Inc will post -11.38 EPS for the current fiscal year.
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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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