Rehmann Capital Advisory Group decreased its position in Tesla Inc. (NASDAQ:TSLA) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,080 shares of the electric vehicle producer’s stock after selling 75 shares during the period. Rehmann Capital Advisory Group’s holdings in Tesla were worth $391,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of TSLA. Crestwood Advisors Group LLC purchased a new position in Tesla during the first quarter valued at about $101,000. SRS Capital Advisors Inc. increased its stake in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares during the last quarter. Advisory Services Network LLC bought a new stake in Tesla during the first quarter valued at approximately $122,000. Acropolis Investment Management LLC bought a new stake in Tesla during the second quarter valued at approximately $122,000. Finally, North Star Investment Management Corp. increased its stake in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the last quarter. 63.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tesla Inc. (TSLA) traded up 0.30% on Wednesday, reaching $329.23. 3,792,726 shares of the company’s stock were exchanged. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99. The firm’s 50 day moving average price is $351.35 and its 200-day moving average price is $294.92. The company’s market capitalization is $54.08 billion.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing the consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. On average, equities analysts anticipate that Tesla Inc. will post ($5.86) EPS for the current year.
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Several equities research analysts have recently commented on TSLA shares. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Tesla in a research note on Thursday, March 23rd. Morgan Stanley reiterated an “overweight” rating and set a $305.00 price objective on shares of Tesla in a research note on Saturday, March 25th. Vetr downgraded shares of Tesla from a “sell” rating to a “strong sell” rating and set a $231.01 price objective for the company. in a research note on Monday, March 27th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $187.00 price objective on shares of Tesla in a research note on Tuesday, March 28th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $368.00 price objective (up from $292.00) on shares of Tesla in a research note on Tuesday, March 28th. Eight analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $294.15.
In other Tesla news, Director Robyn M. Denholm sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $6,235,200. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey B. Straubel sold 106,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $307.44, for a total value of $32,588,640.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,290 shares of company stock valued at $74,919,505. 23.10% of the stock is owned by company insiders.
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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