Atlantic Trust Group LLC trimmed its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 13.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,863 shares of the electric vehicle producer’s stock after selling 1,181 shares during the period. Atlantic Trust Group LLC’s holdings in Tesla were worth $2,093,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantitative Investment Management LLC acquired a new stake in Tesla during the 4th quarter valued at approximately $30,045,000. Laurel Wealth Advisors Inc. increased its holdings in shares of Tesla by 40.2% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 1,692 shares of the electric vehicle producer’s stock valued at $526,000 after purchasing an additional 485 shares in the last quarter. Hoylecohen LLC purchased a new position in shares of Tesla during the 4th quarter valued at approximately $3,198,000. Polaris Greystone Financial Group LLC purchased a new position in shares of Tesla during the 4th quarter valued at approximately $615,000. Finally, Scotia Capital Inc. increased its holdings in shares of Tesla by 11.9% during the 4th quarter. Scotia Capital Inc. now owns 5,739 shares of the electric vehicle producer’s stock valued at $1,787,000 after purchasing an additional 610 shares in the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.
Shares of TSLA opened at $342.00 on Wednesday. Tesla Inc has a 52-week low of $244.59 and a 52-week high of $389.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.44 and a current ratio of 0.74. The firm has a market cap of $56.65 billion, a price-to-earnings ratio of -29.79 and a beta of 0.88.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.95). Tesla had a negative return on equity of 40.72% and a negative net margin of 18.77%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the firm earned ($1.33) EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. analysts forecast that Tesla Inc will post -10.94 earnings per share for the current fiscal year.
TSLA has been the subject of several recent research reports. Vetr raised shares of Tesla from a “hold” rating to a “buy” rating and set a $342.95 target price for the company in a report on Tuesday, March 6th. Citigroup reaffirmed a “neutral” rating and set a $347.00 target price (down from $367.00) on shares of Tesla in a report on Thursday, March 8th. BidaskClub lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. KeyCorp reaffirmed a “hold” rating on shares of Tesla in a report on Tuesday, March 13th. Finally, Jefferies Financial Group reaffirmed a “sell” rating and set a $250.00 target price on shares of Tesla in a report on Monday, March 19th. Eleven analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $299.36.
In other Tesla news, CEO Elon Musk bought 33,000 shares of the stock in a transaction on Monday, May 7th. The shares were bought at an average price of $298.50 per share, with a total value of $9,850,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $300.00, for a total transaction of $562,500.00. Following the sale, the director now directly owns 150,208 shares in the company, valued at approximately $45,062,400. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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