Barometer Capital Management Inc. bought a new stake in Tesla Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 14,200 shares of the electric vehicle producer’s stock, valued at approximately $5,135,000.
Several other large investors have also recently made changes to their positions in TSLA. Crestwood Advisors Group LLC bought a new stake in Tesla during the first quarter worth about $101,000. SRS Capital Advisors Inc. raised its stake 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. Advisory Services Network LLC bought a new stake in Tesla during the first quarter worth about $122,000. Acropolis Investment Management LLC bought a new stake in Tesla during the second quarter worth about $122,000. Finally, North Star Investment Management Corp. raised its stake in Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after buying an additional 9 shares during the last quarter. 63.71% of the stock is currently owned by institutional investors and hedge funds.
Tesla Inc. (NASDAQ:TSLA) traded up 0.69% on Friday, reaching $357.87. 4,365,783 shares of the company’s stock traded hands. Tesla Inc. has a 52-week low of $178.19 and a 52-week high of $386.99. The firm’s market capitalization is $59.72 billion. The firm’s 50 day moving average price is $341.13 and its 200 day moving average price is $307.07.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($2.00) by $0.67. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The business’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.06) EPS. On average, analysts predict that Tesla Inc. will post ($6.29) EPS for the current fiscal year.
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A number of research firms have recently commented on TSLA. J P Morgan Chase & Co upped their price objective on Tesla from $185.00 to $190.00 and gave the stock an “underweight” rating in a report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 price target on Tesla and gave the company a “sell” rating in a report on Monday, May 15th. Guggenheim increased their price target on Tesla from $320.00 to $380.00 and gave the company a “buy” rating in a report on Monday, May 15th. Morgan Stanley downgraded Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price target for the company. in a report on Monday, May 15th. Finally, Cowen and Company reiterated an “underperform” rating and issued a $155.00 price target on shares of Tesla in a report on Monday, May 1st. Seven investment 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 has an average rating of “Hold” and a consensus target price of $309.70.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the transaction, the director now directly owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.10% of the stock is owned by insiders.
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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