Iberiabank Corp purchased a new position in Tesla Inc (NASDAQ:TSLA) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 759 shares of the electric vehicle producer’s stock, valued at approximately $820,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of TSLA. Capstone Financial Group Inc. purchased a new position in Tesla during the second quarter valued at $25,000. Efficient Wealth Management LLC acquired a new position in shares of Tesla during the 1st quarter worth about $26,000. RPG Investment Advisory LLC purchased a new position in Tesla in the 1st quarter valued at about $26,000. MCF Advisors LLC acquired a new stake in Tesla in the 1st quarter worth about $26,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Tesla during the 1st quarter worth approximately $26,000. 50.37% of the stock is owned by institutional investors.
In related news, SVP Andrew D. Baglino sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $1,456.18, for a total transaction of $5,824,720.00. Following the sale, the senior vice president now directly owns 8,122 shares of the company’s stock, valued at approximately $11,827,093.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 200 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $790.51, for a total transaction of $158,102.00. Following the sale, the senior vice president now owns 4,345 shares in the company, valued at $3,434,765.95. The disclosure for this sale can be found here. Insiders have sold 23,910 shares of company stock worth $24,705,348 over the last quarter. Insiders own 23.00% of the company’s stock.
TSLA opened at $1,430.76 on Friday. Tesla Inc has a 52 week low of $211.00 and a 52 week high of $1,794.99. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $1,259.00 and a 200-day simple moving average of $833.62. The firm has a market cap of $265.22 billion, a P/E ratio of 745.19, a P/E/G ratio of 25.76 and a beta of 1.19.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $2.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.35) by $4.53. Tesla had a return on equity of 4.19% and a net margin of 1.43%. The firm had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the business earned ($1.12) EPS. Sell-side analysts expect that Tesla Inc will post 1.65 earnings per share for the current year.
A number of brokerages have recently issued reports on TSLA. Piper Sandler reiterated an “overweight” rating and set a $939.00 price target on shares of Tesla in a research report on Tuesday, July 14th. Bank of America upped their target price on shares of Tesla from $500.00 to $800.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. BofA Securities increased their target price on shares of Tesla from $500.00 to $800.00 and gave the company an “underperform” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. set a $295.00 price target on shares of Tesla and gave the stock a “sell” rating in a research report on Wednesday, July 22nd. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 23rd. Thirteen equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $846.94.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
Featured Story: Dividend Kings
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla Inc (NASDAQ:TSLA).
Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.