Lockheed Martin Investment Management Co. lessened its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,970 shares of the electric vehicle producer’s stock after selling 400 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Tesla were worth $2,377,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can lifted its stake in Tesla by 2.7% in the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock worth $25,129,000 after acquiring an additional 1,802 shares during the period. Main Street Research LLC purchased a new stake in Tesla in the second quarter worth $602,000. CIBC World Markets Inc. lifted its stake in Tesla by 74.2% in the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock worth $3,824,000 after acquiring an additional 4,504 shares during the period. WINTON GROUP Ltd purchased a new stake in Tesla in the second quarter worth $681,000. Finally, Arrow Financial Corp lifted its stake in Tesla by 13.7% in the third quarter. Arrow Financial Corp now owns 9,338 shares of the electric vehicle producer’s stock worth $3,186,000 after acquiring an additional 1,127 shares during the period. 56.36% of the stock is owned by hedge funds and other institutional investors.
Tesla Inc. (NASDAQ TSLA) traded down $6.04 during mid-day trading on Tuesday, hitting $309.36. The stock had a trading volume of 3,476,340 shares, compared to its average volume of 6,404,817. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $389.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm earned $0.71 EPS. The business’s quarterly revenue was up 29.9% on a year-over-year basis. equities analysts forecast that Tesla Inc. will post -11.38 earnings per share for the current fiscal year.
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A number of analysts recently commented on the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $411.00 price target on shares of Tesla in a research note on Monday, September 18th. Jefferies Group LLC assumed coverage on Tesla in a research note on Tuesday, September 19th. They issued an “underperform” rating and a $280.00 price target for the company. They noted that the move was a valuation call. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the stock a “neutral” rating in a report on Wednesday, September 20th. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $341.74 price objective for the company in a report on Wednesday, September 20th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $345.00 price objective (up previously from $314.00) on shares of Tesla in a report on Wednesday, August 9th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Tesla currently has an average rating of “Hold” and an average target price of $330.44.
In related news, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the sale, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eric Branderiz sold 99 shares of Tesla stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $350.12, for a total value of $34,661.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,782 shares of company stock worth $18,294,800. Insiders own 23.10% of the company’s stock.
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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