Wetherby Asset Management Inc. Has $848,000 Position in Tesla Inc (NASDAQ:TSLA)
Wetherby Asset Management Inc. increased its position in shares of Tesla Inc (NASDAQ:TSLA) by 6.0% during the second quarter, Holdings Channel reports. The fund owned 2,345 shares of the electric vehicle producer’s stock after buying an additional 132 shares during the period. Wetherby Asset Management Inc.’s holdings in Tesla were worth $848,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Crestwood Advisors Group LLC bought a new position in Tesla during the first quarter worth $101,000. SRS Capital Advisors Inc. boosted its position in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares during the last quarter. Winfield Associates Inc. boosted its position in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares during the last quarter. Advisory Services Network LLC bought a new position in Tesla during the first quarter worth $122,000. Finally, Acropolis Investment Management LLC bought a new position in Tesla during the second quarter worth $122,000. 63.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tesla Inc (TSLA) opened at 355.40 on Friday. The firm has a 50 day moving average price of $341.84 and a 200 day moving average price of $306.29. The stock’s market capitalization is $59.31 billion. Tesla Inc has a one year low of $178.19 and a one year high of $386.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 26.74% and a negative net margin of 14.39%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm posted ($1.06) earnings per share. The company’s revenue was up 119.6% on a year-over-year basis. Analysts predict that Tesla Inc will post ($6.29) earnings per share for the current fiscal year.
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TSLA has been the topic of a number of analyst reports. Goldman Sachs Group, Inc. (The) lifted their price objective on Tesla from $180.00 to $190.00 in a research report on Friday, August 4th. Dougherty & Co reaffirmed a “buy” rating and set a $375.00 price objective (down from $500.00) on shares of Tesla in a research report on Wednesday, April 26th. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective on the stock in a research report on Tuesday, April 25th. Guggenheim reaffirmed a “buy” rating and set a $320.00 price objective on shares of Tesla in a research report on Wednesday, April 19th. Finally, Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $193.00 to $464.00 in a report on Tuesday, June 13th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company. Tesla presently has an average rating of “Hold” and an average target price of $309.70.
In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares of the company’s stock, valued at $51,505,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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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