Personal Capital Advisors Corp reduced its stake in Tesla Inc. (NASDAQ:TSLA) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,510 shares of the electric vehicle producer’s stock after selling 2,579 shares during the period. Personal Capital Advisors Corp’s holdings in Tesla were worth $22,243,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Crestwood Advisors Group LLC acquired a new position in shares of Tesla during the first quarter worth approximately $101,000. SRS Capital Advisors Inc. increased its position in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Tesla during the first quarter worth approximately $122,000. Acropolis Investment Management LLC purchased a new position in Tesla during the second quarter worth about $122,000. Finally, North Star Investment Management Corp. increased 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 period. Hedge funds and other institutional investors own 62.92% of the company’s stock.
Tesla Inc. (NASDAQ:TSLA) opened at 363.80 on Tuesday. The stock has a 50 day moving average price of $340.57 and a 200 day moving average price of $308.64. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $386.99. The company’s market capitalization is $60.71 billion.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.06) EPS. On average, equities analysts expect that Tesla Inc. will post ($6.31) earnings per share for the current year.
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A number of equities research analysts have recently commented on the company. UBS AG reissued a “sell” rating and issued a $160.00 target price on shares of Tesla in a research note on Wednesday, May 3rd. Morgan Stanley increased their price objective on Tesla from $305.00 to $317.00 and gave the company an “equal weight” rating in a research report on Monday. Robert W. Baird reaffirmed an “outperform” rating and set a $411.00 price objective (up from $368.00) on shares of Tesla in a research report on Monday. Vetr cut Tesla from a “hold” rating to a “sell” rating and set a $335.57 price objective on the stock. in a research report on Tuesday. Finally, Argus reissued a “hold” rating on shares of Tesla in a research report on Thursday, May 11th. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $310.34.
In other Tesla news, Director Kimbal Musk sold 4,690 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total value 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 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.
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