TB Alternative Assets Ltd. decreased its position in shares of Tesla Inc. (NASDAQ:TSLA) by 25.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,800 shares of the electric vehicle producer’s stock after selling 2,300 shares during the period. Tesla accounts for about 1.1% of TB Alternative Assets Ltd.’s holdings, making the stock its 13th largest position. TB Alternative Assets Ltd.’s holdings in Tesla were worth $2,459,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of TSLA. Dimensional Fund Advisors LP raised 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 worth $20,707,000 after buying an additional 20,082 shares during the last quarter. UBS Asset Management Americas Inc. raised 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 worth $62,082,000 after buying an additional 25,012 shares during 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 last quarter. 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 last quarter. Finally, Garde Capital Inc. raised its stake in Tesla by 78.4% in the fourth quarter. Garde Capital Inc. now owns 2,328 shares of the electric vehicle producer’s stock worth $497,000 after buying an additional 1,023 shares during the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tesla Inc. (NASDAQ TSLA) traded up 0.16% on Wednesday, hitting $362.91. The stock had a trading volume of 3,413,773 shares. The firm’s 50-day moving average is $340.15 and its 200 day moving average is $309.81. The stock’s market cap is $60.56 billion. 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, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted ($1.06) earnings per share. The company’s quarterly revenue was up 119.6% compared to the same quarter last year. Equities analysts forecast that Tesla Inc. will post ($6.34) EPS for the current year.
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TSLA has been the topic of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and set a $320.00 price objective on shares of Tesla in a research note on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $187.00 price objective on shares of Tesla in a research note on Saturday, April 22nd. Zacks Investment Research raised 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. Bank of America Corporation decreased their price objective on Tesla from $170.00 to $165.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $305.00 price objective on shares of Tesla in a research note on Wednesday, April 26th. 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $310.34.
In related news, Director Kimbal Musk sold 4,690 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 166,164 shares in the company, valued at $61,095,179.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.10% of the company’s stock.
Tesla Company Profile
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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