Gamble Jones Investment Counsel purchased a new stake in shares of Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 610 shares of the electric vehicle producer’s stock, valued at approximately $221,000.
Other hedge funds have also bought and sold shares of the company. Winfield Associates Inc. increased its stake in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the last quarter. Acropolis Investment Management LLC bought a new position in shares of Tesla during the second quarter valued at $122,000. North Star Investment Management Corp. boosted its position in shares of 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 period. Carroll Financial Associates Inc. boosted its position in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock valued at $126,000 after buying an additional 28 shares during the period. Finally, Crestwood Advisors Group LLC bought a new position in shares of Tesla during the first quarter valued at $101,000. 62.92% of the stock is owned by institutional investors and hedge funds.
Shares of Tesla Inc. (TSLA) traded up 0.4578% during midday trading on Wednesday, hitting $363.9886. The company had a trading volume of 850,366 shares. The company has a 50-day moving average of $340.14 and a 200-day moving average of $309.43. The company’s market capitalization is $60.74 billion. Tesla Inc. has a 12 month low of $178.19 and a 12 month 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. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company’s revenue for the quarter was up 119.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.06) EPS. Analysts predict that Tesla Inc. will post ($6.34) earnings per share for the current year.
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A number of research firms have recently commented on TSLA. Goldman Sachs Group, Inc. (The) lifted their target price on Tesla from $180.00 to $190.00 in a research note on Friday, August 4th. Zacks Investment Research upgraded Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Tuesday, April 25th. Dougherty & Co reaffirmed a “buy” rating and set a $375.00 target price (down previously from $500.00) on shares of Tesla in a report on Wednesday, April 26th. Guggenheim reaffirmed a “buy” rating and set a $320.00 target price on shares of Tesla in a report on Wednesday, April 19th. Finally, Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and lifted their target price for the company from $193.00 to $464.00 in a report on Tuesday, June 13th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $310.34.
In related 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 sale, the director now owns 166,164 shares in the company, valued at $61,095,179.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.10% of the stock is 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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