First Eagle Investment Management LLC boosted its position in shares of Tesla Inc. (NASDAQ:TSLA) by 285.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 405 shares of the electric vehicle producer’s stock after buying an additional 300 shares during the period. First Eagle Investment Management LLC’s holdings in Tesla were worth $146,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. KBC Group NV boosted its position in shares of Tesla by 0.5% in the second quarter. KBC Group NV now owns 29,080 shares of the electric vehicle producer’s stock worth $10,515,000 after buying an additional 147 shares during the last quarter. Ballentine Partners LLC bought a new position in Tesla during the second quarter valued at approximately $677,000. Legal & General Group Plc raised its position in Tesla by 8.3% in the second quarter. Legal & General Group Plc now owns 538,252 shares of the electric vehicle producer’s stock valued at $194,637,000 after buying an additional 41,435 shares during the period. Alps Advisors Inc. bought a new position in Tesla during the second quarter valued at approximately $300,000. Finally, SG Americas Securities LLC raised its position in Tesla by 15.5% in the second quarter. SG Americas Securities LLC now owns 94,963 shares of the electric vehicle producer’s stock valued at $34,340,000 after buying an additional 12,748 shares during the period. Hedge funds and other institutional investors own 62.92% of the company’s stock.
Shares of Tesla Inc. (TSLA) opened at 341.35 on Wednesday. Tesla Inc. has a one year low of $178.19 and a one year high of $386.99. The company’s market cap is $56.97 billion. The company’s 50-day moving average price is $338.54 and its 200 day moving average price is $312.30.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. The business 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 firm’s quarterly revenue was up 119.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.06) EPS. Equities analysts forecast that Tesla Inc. will post ($6.17) EPS for the current fiscal year.
Several research firms have commented on TSLA. Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $193.00 to $464.00 in a research report on Tuesday, June 13th. Robert W. Baird reissued an “outperform” rating and issued a $368.00 price objective on shares of Tesla in a research report on Tuesday, June 20th. Argus raised Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $355.17 to $444.00 in a research report on Tuesday, August 8th. Vetr lowered 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. Finally, Guggenheim raised their price objective on Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company. Tesla presently has an average rating of “Hold” and an average price target of $310.84.
In related news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the completion of the transaction, the director now directly owns 160,274 shares in the company, valued at approximately $51,505,652.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 23.10% of the stock is owned by corporate insiders.
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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