Tesla Inc. (TSLA) Stake Cut by Hartland & Co. LLC
Hartland & Co. LLC decreased its stake in Tesla Inc. (NASDAQ:TSLA) by 14.6% during the second quarter, Holdings Channel reports. The fund owned 1,310 shares of the electric vehicle producer’s stock after selling 224 shares during the period. Hartland & Co. LLC’s holdings in Tesla were worth $474,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. First Manhattan Co. increased its stake in Tesla by 6.0% in the first quarter. First Manhattan Co. now owns 890 shares of the electric vehicle producer’s stock valued at $181,000 after buying an additional 50 shares during the last quarter. Personal Capital Advisors Corp increased its stake in Tesla by 2,038.4% in the first quarter. Personal Capital Advisors Corp now owns 64,089 shares of the electric vehicle producer’s stock valued at $17,777,000 after buying an additional 61,092 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Tesla during the first quarter valued at about $101,000. Mn Services Vermogensbeheer B.V. increased its stake in Tesla by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,456 shares of the electric vehicle producer’s stock valued at $899,000 after buying an additional 125 shares during the last quarter. Finally, CAPROCK Group Inc. increased its stake in Tesla by 10.7% in the first quarter. CAPROCK Group Inc. now owns 1,581 shares of the electric vehicle producer’s stock valued at $440,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 62.92% of the company’s stock.
Tesla Inc. (NASDAQ:TSLA) opened at 361.99 on Thursday. The firm’s market capitalization is $60.41 billion. The company has a 50 day moving average price of $340.15 and a 200-day moving average price of $309.81. Tesla Inc. has a 52 week low of $178.19 and a 52 week high of $386.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s quarterly revenue was up 119.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. Equities analysts predict that Tesla Inc. will post ($6.34) earnings per share for the current year.
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A number of equities analysts have recently weighed in on the company. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 target price on the stock in a report on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and issued a $368.00 target price on shares of Tesla in a report on Tuesday, June 20th. BidaskClub downgraded Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $200.00 target price (up previously from $180.00) on shares of Tesla in a report on Wednesday, August 9th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $345.00 target price (up previously from $314.00) on shares of Tesla in a report on Wednesday, August 9th. Eight analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $310.84.
In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction dated 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 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 SEC, which is available at this link. Corporate 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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