NN Investment Partners Holdings N.V. cut its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 41.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,316 shares of the electric vehicle producer’s stock after selling 5,950 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Tesla were worth $3,007,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Perigon Wealth Management LLC increased its position in Tesla by 4.5% in the fourth quarter. Perigon Wealth Management LLC now owns 7,951 shares of the electric vehicle producer’s stock valued at $2,000,000 after buying an additional 341 shares during the last quarter. Lincoln National Corp bought a new stake in shares of Tesla during the first quarter valued at about $226,000. UBS Asset Management Americas Inc. boosted its stake in shares of Tesla by 9.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 290,524 shares of the electric vehicle producer’s stock valued at $62,082,000 after buying an additional 25,012 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tesla by 5.0% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer’s stock valued at $1,651,654,000 after buying an additional 280,941 shares during the period. Finally, Gemmer Asset Management LLC boosted its stake in shares of Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock valued at $211,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 63.71% of the company’s stock.
Tesla Inc. (NASDAQ TSLA) opened at 357.87 on Friday. The company has a 50-day moving average price of $341.13 and a 200 day moving average price of $307.07. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $386.99. The stock’s market cap is $59.72 billion.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The firm’s revenue for the quarter was up 119.6% on a year-over-year basis. During the same quarter last year, the company posted ($1.06) EPS. On average, equities research analysts predict that Tesla Inc. will post ($6.29) EPS for the current year.
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A number of analysts have recently weighed in on the company. Goldman Sachs Group, Inc. (The) lifted their price target 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 target (down previously 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 target for the company in a research report on Tuesday, April 25th. Guggenheim reiterated a “buy” rating and set a $320.00 price objective on shares of Tesla in a research note on Wednesday, April 19th. Finally, Berenberg Bank upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $193.00 to $464.00 in a research note on Tuesday, June 13th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company. Tesla currently has a consensus rating of “Hold” and a consensus price target of $309.70.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total transaction of $703,778.40. Following the sale, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.10% of the stock is owned by corporate insiders.
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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