688 Shares in Tesla Inc. (NASDAQ:TSLA) Acquired by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC acquired a new position in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 688 shares of the electric vehicle producer’s stock, valued at approximately $249,000.

Several other large investors also recently made changes to their positions in TSLA. North Star Investment Management Corp. boosted its position 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 worth $122,000 after buying an additional 9 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock worth $145,000 after buying an additional 9 shares during the last quarter. Clarius Group LLC boosted its position in Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock worth $1,287,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC boosted its position in Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock worth $282,000 after buying an additional 20 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC boosted its position in Tesla by 1.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 1,382 shares of the electric vehicle producer’s stock worth $487,000 after buying an additional 25 shares during the last quarter. 63.71% of the stock is owned by institutional investors and hedge funds.

Shares of Tesla Inc. (TSLA) traded up 0.69% during midday trading on Friday, reaching $357.87. The company had a trading volume of 4,365,783 shares. The company has a 50 day moving average price of $341.13 and a 200-day moving average price of $307.07. The firm’s market capitalization is $59.72 billion. Tesla Inc. has a one year low of $178.19 and a one year high of $386.99.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted ($1.06) EPS. The business’s revenue for the quarter was up 119.6% compared to the same quarter last year. On average, analysts anticipate that Tesla Inc. will post ($6.29) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/08/12/alpha-cubed-investments-llc-buys-new-stake-in-tesla-inc-nasdaqtsla-updated.html.

A number of research analysts have issued reports on the company. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and boosted their target price for the company from $193.00 to $464.00 in a research note on Tuesday, June 13th. Robert W. Baird reissued an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research note on Tuesday, June 20th. Argus raised Tesla from a “hold” rating to a “buy” rating and boosted their target price for the company from $355.17 to $444.00 in a research note on Tuesday. Vetr cut Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 target price for the company. in a research note on Tuesday, July 11th. Finally, Guggenheim boosted their target price on Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Tesla has an average rating of “Hold” and a consensus target price of $309.70.

In other Tesla news, Director Kimbal Musk sold 4,690 shares of the business’s stock in a transaction on 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 sale, the director now owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply