Kessler Investment Group LLC Takes Position in Tesla Inc. (NASDAQ:TSLA)
Kessler Investment Group LLC purchased a new stake in shares of Tesla Inc. (NASDAQ:TSLA) during the second quarter, Holdings Channel reports. The institutional investor purchased 500 shares of the electric vehicle producer’s stock, valued at approximately $181,000.
A number of other institutional investors have also recently modified their holdings of the stock. Gulf International Bank UK Ltd increased its position in shares of Tesla by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 39,718 shares of the electric vehicle producer’s stock valued at $11,053,000 after buying an additional 560 shares in the last quarter. Vista Capital Partners Inc. purchased a new position in shares of Tesla during the first quarter valued at $202,000. American Investment Services Inc. purchased a new position in shares of Tesla during the first quarter valued at $213,000. Catawba Capital Management VA increased its position in shares of Tesla by 4.1% in the first quarter. Catawba Capital Management VA now owns 2,770 shares of the electric vehicle producer’s stock valued at $771,000 after buying an additional 110 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Tesla by 14.8% in the first quarter. CENTRAL TRUST Co now owns 1,601 shares of the electric vehicle producer’s stock valued at $446,000 after buying an additional 206 shares in the last quarter. 63.75% of the stock is currently owned by institutional investors and hedge funds.
Tesla Inc. (NASDAQ:TSLA) traded up 0.55% during trading on Thursday, hitting $327.04. 2,419,568 shares of the stock traded hands. The company’s market cap is $53.72 billion. The company’s 50 day moving average price is $351.07 and its 200 day moving average price is $295.15. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99.
Tesla (NASDAQ:TSLA) last released its quarterly 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. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. On average, equities research analysts anticipate that Tesla Inc. will post ($5.75) EPS for the current fiscal year.
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Several equities analysts have weighed in on the stock. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price target on the stock in a report on Tuesday, June 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $368.00 price target on shares of Tesla in a report on Tuesday, June 20th. BidaskClub downgraded shares of Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) set a $180.00 price target on shares of Tesla and gave the company a “sell” rating in a report on Friday, June 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $305.00 price target on shares of Tesla in a report on Monday, June 12th. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $296.39.
In other Tesla news, Director Kimbal Musk sold 4,690 shares of Tesla stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the transaction, the director now owns 166,164 shares of the company’s stock, valued at $61,095,179.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey B. Straubel sold 106,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $307.44, for a total value of $32,588,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 242,290 shares of company stock worth $74,919,505. 23.10% of the stock is currently owned by corporate insiders.
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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