Metropolitan Life Insurance Co. NY lowered its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 26.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,263 shares of the electric vehicle producer’s stock after selling 3,033 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Tesla were worth $2,300,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Dimensional Fund Advisors LP boosted its stake in shares of Tesla by 26.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 96,896 shares of the electric vehicle producer’s stock valued at $20,707,000 after buying an additional 20,082 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Tesla by 3.0% in the fourth quarter. Franklin Resources Inc. now owns 10,293 shares of the electric vehicle producer’s stock valued at $2,200,000 after buying an additional 300 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Tesla by 9.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 290,524 shares of the electric vehicle producer’s stock valued at $62,082,000 after buying an additional 25,012 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Tesla by 4.5% in the fourth quarter. Perigon Wealth Management LLC now owns 7,951 shares of the electric vehicle producer’s stock worth $2,000,000 after buying an additional 341 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in Tesla by 8.9% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,558 shares of the electric vehicle producer’s stock worth $390,000 after buying an additional 127 shares during the period. 63.78% of the stock is owned by institutional investors and hedge funds.
Shares of Tesla Inc. (NASDAQ:TSLA) opened at 335.07 on Friday. The firm’s market capitalization is $55.04 billion. The firm’s 50 day moving average is $348.29 and its 200 day moving average is $299.70. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.56 billion. Analysts anticipate that Tesla Inc. will post ($5.99) EPS for the current fiscal year.
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A number of equities analysts have recently commented on TSLA shares. J P Morgan Chase & Co raised their target price on shares of Tesla from $185.00 to $190.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 target price on shares of Tesla and gave the stock a “sell” rating in a research report on Monday, May 15th. Guggenheim raised their target price on shares of Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Morgan Stanley downgraded shares of Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 target price for the company. in a research note on Monday, May 15th. Finally, Cowen and Company restated an “underperform” rating and issued a $155.00 target price on shares of Tesla in a research note on Monday, May 1st. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $301.70.
In other Tesla news, Director Kimbal Musk sold 4,690 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the completion of the transaction, the director now directly owns 166,164 shares in the company, valued at $61,095,179.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey B. Straubel sold 106,000 shares of the stock in a transaction on 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. Insiders sold 242,290 shares of company stock valued at $74,919,505 over the last 90 days. 23.10% of the stock is currently owned by corporate 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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