Tesla Inc. (TSLA) Position Raised by Axa
Axa increased its position in shares of Tesla Inc. (NASDAQ:TSLA) by 23.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,096 shares of the electric vehicle producer’s stock after buying an additional 396 shares during the period. Axa’s holdings in Tesla were worth $583,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Tesla during the fourth quarter worth about $94,658,000. Jennison Associates LLC raised its stake in shares of Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares during the period. Light Street Capital Management LLC raised its stake in shares of Tesla by 312.5% in the fourth quarter. Light Street Capital Management LLC now owns 165,000 shares of the electric vehicle producer’s stock worth $35,259,000 after buying an additional 125,000 shares during the period. KEYWISE CAPITAL MANAGEMENT Ltd bought a new stake in shares of Tesla during the first quarter worth about $31,456,000. Finally, Founders Fund IV Management LLC bought a new stake in shares of Tesla during the fourth quarter worth about $23,184,000. 63.77% of the stock is owned by institutional investors.
Tesla Inc. (NASDAQ:TSLA) opened at 376.40 on Thursday. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $384.25. The firm’s market capitalization is $61.83 billion. The firm has a 50-day moving average of $334.64 and a 200-day moving average of $275.06.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. On average, equities research analysts forecast that Tesla Inc. will post ($5.80) EPS for the current fiscal year.
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A number of research analysts have recently weighed in on TSLA shares. Guggenheim restated a “buy” rating and set a $300.00 price target on shares of Tesla in a report on Monday, February 27th. Dougherty & Co cut their price target on shares of Tesla from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Robert W. Baird set a $368.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Thursday, March 2nd. Zacks Investment Research upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 price target on the stock in a report on Tuesday, April 25th. Finally, Berenberg Bank upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $193.00 to $464.00 in a report on Tuesday, June 13th. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $288.17.
In other news, VP John Douglas Field sold 500 shares of the firm’s stock in a transaction that occurred on Friday, April 7th. The shares were sold at an average price of $301.45, for a total value of $150,725.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $315.67, for a total transaction of $789,175.00. Following the completion of the sale, the director now owns 168,355 shares in the company, valued at $53,144,622.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 242,791 shares of company stock worth $74,745,344. Insiders own 23.10% of the company’s stock.
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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