Creative Planning Cuts Holdings in Tesla Inc (TSLA)
Creative Planning cut its stake in shares of Tesla Inc (NASDAQ:TSLA) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,282 shares of the electric vehicle producer’s stock after selling 6,205 shares during the period. Creative Planning’s holdings in Tesla were worth $15,967,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TSLA. Janus Henderson Group PLC lifted its position in Tesla by 126.6% during the third quarter. Janus Henderson Group PLC now owns 547,072 shares of the electric vehicle producer’s stock worth $186,601,000 after acquiring an additional 305,596 shares during the last quarter. Vanguard Group Inc. lifted its position in Tesla by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock worth $2,251,890,000 after acquiring an additional 292,602 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Tesla during the second quarter worth approximately $66,601,000. Ariose Capital Management Ltd acquired a new stake in Tesla during the third quarter worth approximately $30,733,000. Finally, Lord Abbett & CO. LLC lifted its position in Tesla by 78.9% during the second quarter. Lord Abbett & CO. LLC now owns 152,146 shares of the electric vehicle producer’s stock worth $55,018,000 after acquiring an additional 67,120 shares during the last quarter. Hedge funds and other institutional investors own 57.13% of the company’s stock.
Several equities research analysts have issued reports on TSLA shares. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the stock a “neutral” rating in a research report on Wednesday, September 20th. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $341.74 price objective for the company in a research report on Wednesday, September 20th. Morgan Stanley reiterated a “hold” rating and issued a $317.00 price target on shares of Tesla in a research report on Tuesday, September 26th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $386.00 price target on shares of Tesla in a research report on Wednesday, September 27th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $411.00 price target on shares of Tesla in a research report on Friday, September 29th. Eleven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $329.48.
Tesla Inc (TSLA) opened at $347.16 on Thursday. Tesla Inc has a 1 year low of $235.58 and a 1 year high of $389.61. The company has a market cap of $58,350.00, a P/E ratio of -40.56 and a beta of 0.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating the consensus estimate of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The company’s revenue was up 29.9% on a year-over-year basis. equities research analysts anticipate that Tesla Inc will post -11.38 EPS for the current year.
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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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