Investors Buy Tesla Motors Inc. (TSLA) on Weakness
Traders bought shares of Tesla Motors Inc. (NASDAQ:TSLA) on weakness during trading on Thursday. $120.17 million flowed into the stock on the tick-up and $110.18 million flowed out of the stock on the tick-down, for a money net flow of $9.99 million into the stock. Of all stocks tracked, Tesla Motors had the 14th highest net in-flow for the day. Tesla Motors traded down ($0.74) for the day and closed at $224.91
Several equities research analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $170.00 price objective (up previously from $155.00) on shares of Tesla Motors in a report on Tuesday, April 19th. Dougherty & Co restated a “buy” rating and set a $500.00 price target on shares of Tesla Motors in a report on Monday, May 9th. Vetr upgraded Tesla Motors from a “buy” rating to a “strong-buy” rating and set a $238.54 price target on the stock in a report on Monday, May 9th. Morgan Stanley restated an “overweight” rating and set a $333.00 price target on shares of Tesla Motors in a report on Tuesday, May 10th. Finally, Deutsche Bank AG restated a “hold” rating and set a $290.00 price target on shares of Tesla Motors in a report on Wednesday, June 22nd. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Tesla Motors currently has a consensus rating of “Hold” and an average price target of $256.94.
The company’s market capitalization is $33.55 billion. The firm has a 50-day moving average of $221.56 and a 200-day moving average of $215.64.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.55. During the same period in the previous year, the company posted ($0.48) EPS. The firm earned $1.56 billion during the quarter, compared to analyst estimates of $1.67 billion. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. On average, analysts forecast that Tesla Motors Inc. will post ($0.84) EPS for the current fiscal year.
In other news, VP John Douglas Field sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $230.92, for a total transaction of $230,920.00. Following the completion of the transaction, the vice president now directly owns 12,292 shares in the company, valued at $2,838,468.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Elon Musk sold 2,782,670 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $213.22, for a total value of $593,320,897.40. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of TSLA. Calvert Investment Management Inc. increased its position in shares of Tesla Motors by 24.9% in the fourth quarter. Calvert Investment Management Inc. now owns 4,729 shares of the electric vehicle producer’s stock valued at $1,135,000 after buying an additional 942 shares in the last quarter. Alta Park Capital LP acquired a new position in shares of Tesla Motors during the fourth quarter valued at about $3,360,000. US Bancorp DE increased its position in shares of Tesla Motors by 2.3% in the fourth quarter. US Bancorp DE now owns 12,189 shares of the electric vehicle producer’s stock valued at $2,925,000 after buying an additional 279 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Tesla Motors by 217.7% in the fourth quarter. Suntrust Banks Inc. now owns 7,589 shares of the electric vehicle producer’s stock valued at $1,820,000 after buying an additional 5,200 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Tesla Motors by 5.7% in the fourth quarter. Schroder Investment Management Group now owns 10,609 shares of the electric vehicle producer’s stock valued at $2,547,000 after buying an additional 570 shares in the last quarter.
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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