Smith Moore & CO. Has $332,000 Stake in Tesla Inc. (TSLA)
Smith Moore & CO. boosted its position in Tesla Inc. (NASDAQ:TSLA) by 56.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 972 shares of the electric vehicle producer’s stock after buying an additional 350 shares during the quarter. Smith Moore & CO.’s holdings in Tesla were worth $332,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Tesla by 4.9% in the second quarter. Vanguard Group Inc. now owns 6,227,401 shares of the electric vehicle producer’s stock valued at $2,251,890,000 after buying an additional 292,602 shares during the last quarter. Capital World Investors increased its holdings in Tesla by 0.6% in the second quarter. Capital World Investors now owns 3,016,552 shares of the electric vehicle producer’s stock valued at $1,090,815,000 after buying an additional 17,452 shares during the last quarter. Jennison Associates LLC increased its holdings in Tesla by 4.3% in the second quarter. Jennison Associates LLC now owns 3,002,685 shares of the electric vehicle producer’s stock valued at $1,085,801,000 after buying an additional 124,511 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Tesla by 0.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 692,792 shares of the electric vehicle producer’s stock valued at $250,521,000 after buying an additional 2,754 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Tesla by 8.3% in the second quarter. Legal & General Group Plc now owns 538,252 shares of the electric vehicle producer’s stock valued at $194,637,000 after buying an additional 41,435 shares during the last quarter. 56.52% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on TSLA. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 target price for the company in a research note on Friday, October 13th. Citigroup Inc. began coverage on Tesla in a research note on Thursday, July 20th. They issued a “neutral” rating and a $357.00 target price for the company. Morgan Stanley restated a “hold” rating and issued a $317.00 target price on shares of Tesla in a research note on Thursday, September 7th. Sanford C. Bernstein reiterated a “market perform” rating and set a $265.00 price objective on shares of Tesla in a research report on Tuesday, October 3rd. Finally, Robert W. Baird restated an “outperform” rating and issued a $368.00 target price on shares of Tesla in a research report on Wednesday, July 26th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $330.44.
In other news, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the transaction, the director now directly owns 36,111 shares of the company’s stock, valued at $12,290,739.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the transaction, the director now directly owns 158,584 shares in the company, valued at $56,329,036.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,782 shares of company stock worth $18,294,800. Insiders own 23.10% of the company’s stock.
Shares of Tesla Inc. (TSLA) traded down $3.94 during midday trading on Wednesday, hitting $302.11. 1,443,718 shares of the stock were exchanged, compared to its average volume of 6,280,000. Tesla Inc. has a 52 week low of $178.19 and a 52 week high of $389.61. The company has a current ratio of 0.97, a quick ratio of 0.60 and a debt-to-equity ratio of 1.15.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.09) by $0.17. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.80%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. equities analysts anticipate that Tesla Inc. will post -11.38 earnings per share for the current fiscal year.
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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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