Lord Abbett & CO. LLC increased its holdings in Tesla Inc. (NASDAQ:TSLA) by 78.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 152,146 shares of the electric vehicle producer’s stock after buying an additional 67,120 shares during the period. Lord Abbett & CO. LLC owned about 0.09% of Tesla worth $55,018,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. boosted its holdings in shares of Tesla by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after buying an additional 292,602 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at about $66,601,000. Jasper Ridge Partners L.P. boosted its holdings in shares of Tesla by 7,001.5% in the 2nd quarter. Jasper Ridge Partners L.P. now owns 161,276 shares of the electric vehicle producer’s stock valued at $58,319,000 after buying an additional 159,005 shares during the period. Quantitative Investment Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at about $52,108,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Tesla by 131.8% in the 2nd quarter. Janus Henderson Group PLC now owns 241,476 shares of the electric vehicle producer’s stock valued at $87,329,000 after buying an additional 137,318 shares during the period. 56.62% of the stock is owned by institutional investors and hedge funds.
TSLA has been the subject of several research 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. Vetr downgraded shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $358.85 price objective on the stock. in a research report on Tuesday, July 11th. Guggenheim reiterated a “buy” rating and issued a $430.00 price objective (up from $380.00) on shares of Tesla in a research report on Wednesday, July 5th. Berenberg Bank reiterated a “buy” rating on shares of Tesla in a research report on Thursday, August 3rd. Finally, Argus upgraded shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $355.17 to $444.00 in a research report on Tuesday, August 8th. Eleven research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $327.37.
In related news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders have sold a total of 51,446 shares of company stock valued at $17,504,929 over the last ninety days. Company insiders own 23.10% of the company’s stock.
Tesla Inc. (TSLA) traded down 2.30% during mid-day trading on Thursday, reaching $351.38. 1,925,708 shares of the company’s stock were exchanged. The company’s market cap is $58.64 billion. The stock has a 50-day moving average price of $355.81 and a 200 day moving average price of $339.51. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s quarterly revenue was up 119.6% on a year-over-year basis. During the same period last year, the business earned ($1.06) EPS. Equities analysts predict that Tesla Inc. will post ($6.56) earnings per share for the current fiscal year.
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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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