Carnegie Capital Asset Management LLC acquired a new position in shares of Tesla Inc (NASDAQ:TSLA) in the 1st quarter, Holdings Channel reports. The fund acquired 596 shares of the electric vehicle producer’s stock, valued at approximately $312,000.
Several other large investors also recently modified their holdings of TSLA. Renaissance Technologies LLC lifted its position in shares of Tesla by 486.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,938,142 shares of the electric vehicle producer’s stock worth $1,647,443,000 after buying an additional 3,267,141 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Tesla by 158.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,566,544 shares of the electric vehicle producer’s stock worth $655,333,000 after buying an additional 961,315 shares during the last quarter. Norges Bank purchased a new stake in Tesla in the 4th quarter valued at $357,994,000. Capital World Investors raised its position in Tesla by 4.4% in the 4th quarter. Capital World Investors now owns 10,694,412 shares of the electric vehicle producer’s stock valued at $4,473,791,000 after purchasing an additional 454,250 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Tesla by 10.4% in the 1st quarter. Jennison Associates LLC now owns 4,320,630 shares of the electric vehicle producer’s stock valued at $2,264,010,000 after purchasing an additional 408,744 shares during the last quarter. Institutional investors and hedge funds own 52.08% of the company’s stock.
Several research firms recently commented on TSLA. ValuEngine downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Barclays reiterated a “sell” rating and issued a $300.00 price target on shares of Tesla in a research report on Wednesday, February 5th. Robert W. Baird reiterated a “hold” rating and issued a $525.00 price target on shares of Tesla in a research report on Friday, April 24th. Sanford C. Bernstein reiterated a “hold” rating and issued a $500.00 price target on shares of Tesla in a research report on Tuesday, May 12th. Finally, Cfra upgraded shares of Tesla to a “hold” rating in a research report on Tuesday, March 17th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tesla currently has a consensus rating of “Hold” and a consensus target price of $559.74.
In other Tesla news, CFO Zachary Kirkhorn sold 150 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $440.01, for a total transaction of $66,001.50. Following the sale, the chief financial officer now directly owns 11,432 shares of the company’s stock, valued at approximately $5,030,194.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 300 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $623.63, for a total transaction of $187,089.00. Following the sale, the senior vice president now directly owns 4,445 shares in the company, valued at $2,772,035.35. The disclosure for this sale can be found here. Insiders have sold a total of 5,725 shares of company stock worth $4,575,306 over the last ninety days. 24.40% of the stock is owned by corporate insiders.
Shares of NASDAQ TSLA opened at $816.88 on Friday. The stock has a market cap of $153.41 billion, a price-to-earnings ratio of -917.84 and a beta of 1.15. Tesla Inc has a 52 week low of $176.99 and a 52 week high of $968.99. The company’s 50-day moving average price is $706.72 and its 200 day moving average price is $562.53. The company has a current ratio of 1.24, a quick ratio of 0.87 and a debt-to-equity ratio of 1.07.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, April 29th. The electric vehicle producer reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $1.60. Tesla had a negative net margin of 0.55% and a negative return on equity of 1.86%. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the prior year, the company earned ($2.90) EPS. The firm’s revenue was up 31.8% on a year-over-year basis. As a group, research analysts expect that Tesla Inc will post -0.01 earnings per share for the current year.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, 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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