Grimes & Company Inc. Purchases 220 Shares of Tesla Motors Inc. (TSLA)
Grimes & Company Inc. raised its position in Tesla Motors Inc. (NASDAQ:TSLA) by 15.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,611 shares of the electric vehicle producer’s stock after buying an additional 220 shares during the period. Grimes & Company Inc.’s holdings in Tesla Motors were worth $342,000 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. Motley Fool Wealth Management LLC raised its position in Tesla Motors by 1.9% in the first quarter. Motley Fool Wealth Management LLC now owns 45,644 shares of the electric vehicle producer’s stock worth $10,488,000 after buying an additional 873 shares during the last quarter. Pacad Investment Ltd. acquired a new position in Tesla Motors during the first quarter worth $1,218,000. Manchester Capital Management LLC raised its position in Tesla Motors by 930.7% in the first quarter. Manchester Capital Management LLC now owns 1,577 shares of the electric vehicle producer’s stock worth $362,000 after buying an additional 1,424 shares during the last quarter. Virginia Retirement System acquired a new position in Tesla Motors during the first quarter worth $366,000. Finally, Nisa Investment Advisors L.L.C. raised its position in Tesla Motors by 5.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 3,700 shares of the electric vehicle producer’s stock worth $850,000 after buying an additional 200 shares during the last quarter. 66.62% of the stock is currently owned by institutional investors and hedge funds.
Tesla Motors Inc. (NASDAQ:TSLA) traded up 0.28% on Wednesday, hitting $205.22. The stock had a trading volume of 2,633,503 shares. Tesla Motors Inc. has a 1-year low of $141.05 and a 1-year high of $269.34. The company’s market cap is $30.51 billion. The stock has a 50 day moving average price of $214.18 and a 200 day moving average price of $222.67.
Tesla Motors (NASDAQ:TSLA) last released its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The company earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm posted ($0.48) EPS. The company’s revenue was up 30.5% on a year-over-year basis. On average, equities research analysts expect that Tesla Motors Inc. will post ($0.95) EPS for the current fiscal year.
A number of research firms recently weighed in on TSLA. Robert W. Baird reissued a “buy” rating and set a $338.00 target price on shares of Tesla Motors in a report on Monday, August 1st. Vetr lowered Tesla Motors from a “hold” rating to a “sell” rating and set a $227.49 price objective on the stock. in a report on Monday, August 1st. Zacks Investment Research lowered Tesla Motors from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Tesla Motors in a report on Friday, August 5th. Finally, Piper Jaffray Cos. assumed coverage on Tesla Motors in a report on Thursday, June 9th. They issued a “neutral” rating and a $223.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $248.75.
Tesla Motors Company Profile
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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