Financial Management Professionals Inc. Continues to Hold Position in Tesla Inc. (NASDAQ:TSLA)

Financial Management Professionals Inc. maintained its stake in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 586 shares of the electric vehicle producer’s stock at the end of the second quarter. Financial Management Professionals Inc.’s holdings in Tesla were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TSLA. Dimensional Fund Advisors LP boosted its stake in 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. UBS Asset Management Americas Inc. boosted its stake in 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. HighPoint Advisor Group LLC boosted 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 valued at $390,000 after buying an additional 127 shares in the last quarter. Teachers Advisors LLC boosted its stake in Tesla by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 153,551 shares of the electric vehicle producer’s stock valued at $32,812,000 after buying an additional 13,705 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Tesla by 22.1% in the fourth quarter. Macquarie Group Ltd. now owns 48,626 shares of the electric vehicle producer’s stock valued at $10,391,000 after buying an additional 8,800 shares in the last quarter. Hedge funds and other institutional investors own 63.78% of the company’s stock.

Tesla Inc. (NASDAQ TSLA) opened at 335.07 on Friday. The firm’s 50-day moving average price is $348.29 and its 200 day moving average price is $299.70. The company’s market capitalization is $55.04 billion. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $386.99.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Zacks’ consensus estimate 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. On average, equities research analysts expect that Tesla Inc. will post ($5.99) EPS for the current fiscal year.

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TSLA has been the topic of several analyst reports. Guggenheim raised their target price on Tesla from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, April 3rd. FBN Securities raised their target price on Tesla from $275.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, April 3rd. Robert W. Baird restated an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research report on Tuesday, April 4th. Morgan Stanley restated an “overweight” rating and issued a $305.00 target price on shares of Tesla in a research report on Tuesday, April 4th. Finally, Pacific Crest cut Tesla to a “hold” rating in a research report on Wednesday, April 5th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Tesla currently has an average rating of “Hold” and an average target price of $301.70.

In other news, Director Kimbal Musk sold 4,690 shares of the stock in a transaction dated Monday, July 3rd. The shares were 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 approximately $61,095,179.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey B. Straubel sold 109,100 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $307.81, for a total transaction of $33,582,071.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242,290 shares of company stock valued at $74,919,505. Company insiders own 23.10% of the company’s stock.

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.