Zuckerman Investment Group LLC Purchases Shares of 655 Tesla Inc. (TSLA)
Zuckerman Investment Group LLC purchased a new stake in Tesla Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 655 shares of the electric vehicle producer’s stock, valued at approximately $237,000.
Other hedge funds also recently modified their holdings of the company. Pittenger & Anderson Inc. boosted its stake in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after buying an additional 50 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares during the period. Winfield Associates Inc. boosted its stake in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares during the period. Acropolis Investment Management LLC bought a new stake in shares of Tesla in the second quarter valued at approximately $122,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after buying an additional 9 shares during the period. Institutional investors and hedge funds own 56.63% of the company’s stock.
In related news, VP Eric Branderiz sold 99 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the sale, the director now directly owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock valued at $18,481,047 over the last three months. Corporate insiders own 23.10% of the company’s stock.
Tesla Inc. (NASDAQ:TSLA) traded down 4.20% during trading on Friday, hitting $351.09. 8,159,418 shares of the stock were exchanged. The stock’s market cap is $58.59 billion. The stock has a 50 day moving average of $354.97 and a 200-day moving average of $325.99. Tesla Inc. has a 52 week low of $178.19 and a 52 week high of $389.61.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company’s revenue was up 119.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.06) earnings per share. Equities analysts expect that Tesla Inc. will post ($6.29) EPS for the current fiscal year.
Several brokerages recently issued reports on TSLA. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $341.74 price target for the company in a research note on Wednesday. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Group LLC began coverage on Tesla in a research note on Tuesday. They issued an “underperform” rating and a $280.00 price target for the company. They noted that the move was a valuation call. Robert W. Baird reiterated an “outperform” rating and issued a $411.00 price target on shares of Tesla in a research note on Monday, September 18th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $210.00 price target (up from $165.00) on shares of Tesla in a research note on Wednesday, September 13th. Nine equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $314.30.
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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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