Vicus Capital purchased a new position in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 630 shares of the electric vehicle producer’s stock, valued at approximately $228,000.
A number of other large investors have also modified their holdings of TSLA. Crestwood Advisors Group LLC purchased a new position in shares of Tesla during the first quarter worth $101,000. SRS Capital Advisors Inc. increased its stake 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 valued at $109,000 after buying an additional 364 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Tesla during the first quarter valued at about $122,000. Acropolis Investment Management LLC bought a new stake in Tesla during the second quarter valued at $122,000. Finally, North Star Investment Management Corp. increased its stake 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 valued at $122,000 after buying an additional 9 shares in the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.
Tesla Inc. (TSLA) traded down 3.03% on Thursday, hitting $351.92. The company had a trading volume of 5,027,660 shares. The firm has a 50-day moving average price of $339.60 and a 200-day moving average price of $310.11. The firm’s market capitalization is $58.73 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 earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) 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 during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned ($1.06) earnings per share. The business’s quarterly revenue was up 119.6% on a year-over-year basis. On average, equities research analysts anticipate that Tesla Inc. will post ($6.23) earnings per share for the current fiscal year.
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TSLA has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) lifted their price target on shares of Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Guggenheim reissued a “buy” rating and set a $320.00 price objective on shares of Tesla in a report on Wednesday, April 19th. Zacks Investment Research upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 target price for the company in a research report on Tuesday, April 25th. Dougherty & Co reiterated a “buy” rating and issued a $375.00 price objective (down previously from $500.00) on shares of Tesla in a research report on Wednesday, April 26th. Finally, Global Equities Research restated a “buy” rating and set a $385.00 price target on shares of Tesla in a research report on Tuesday, June 13th. Eight investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Tesla currently has a consensus rating of “Hold” and an average price target of $310.84.
In other news, Director Kimbal Musk sold 4,690 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 166,164 shares in the company, valued at $61,095,179.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.10% of the stock is owned by company 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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