Cordatus Wealth Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,922 shares of the electric vehicle producer’s stock, valued at approximately $2,266,000. Tesla makes up about 1.7% of Cordatus Wealth Management LLC’s portfolio, making the stock its 24th largest position.
Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new position in Tesla in the third quarter worth approximately $27,000. O Brien Wealth Partners LLC purchased a new stake in shares of Tesla during the third quarter valued at $31,000. Laffer Tengler Investments grew its holdings in shares of Tesla by 5,000.0% during the second quarter. Laffer Tengler Investments now owns 51 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 50 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Tesla during the third quarter valued at $41,000. Finally, Prentice Wealth Management LLC grew its holdings in shares of Tesla by 1,766.7% during the second quarter. Prentice Wealth Management LLC now owns 56 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 53 shares during the last quarter. 40.97% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on TSLA. The Goldman Sachs Group boosted their price objective on shares of Tesla from $1,125.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday. TheStreet lowered shares of Tesla from a “b” rating to a “c+” rating in a report on Monday, December 20th. Guggenheim began coverage on shares of Tesla in a report on Monday, December 20th. They issued a “neutral” rating and a $924.00 price target on the stock. Evercore ISI upped their price target on shares of Tesla from $750.00 to $900.00 in a report on Tuesday, January 4th. Finally, Wedbush upped their price objective on shares of Tesla from $1,100.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Eight equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $900.94.
Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, October 19th. The electric vehicle producer reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.90. The company had revenue of $13.76 billion for the quarter, compared to analysts’ expectations of $13.70 billion. Tesla had a net margin of 7.40% and a return on equity of 13.81%. The firm’s revenue was up 56.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Research analysts forecast that Tesla, Inc. will post 4.21 earnings per share for the current year.
In other Tesla news, CAO Vaibhav Taneja sold 1,100 shares of the company’s stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $1,160.85, for a total transaction of $1,276,935.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Kirkhorn sold 1,250 shares of the stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $851.47, for a total transaction of $1,064,337.50. The disclosure for this sale can be found here. Insiders sold a total of 4,292,621 shares of company stock valued at $4,500,554,314 in the last quarter. 25.00% of the stock is currently owned by insiders.
Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. It also provides vehicle service centers, Supercharger stations, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.
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