Kathmere Capital Management LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 19.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 865 shares of the electric vehicle producer’s stock after selling 205 shares during the period. Kathmere Capital Management LLC’s holdings in Tesla were worth $227,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Axiom Financial Strategies LLC lifted its stake in Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after purchasing an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after buying an additional 164,789 shares in the last quarter. MAS Advisors LLC grew its position in Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares during the period. Ergoteles LLC lifted its holdings in shares of Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after acquiring an additional 893 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares in the last quarter. Institutional investors and hedge funds own 41.87% of the company’s stock.
Tesla Stock Down 0.6 %
NASDAQ:TSLA opened at $274.39 on Monday. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $313.80. The stock has a 50-day moving average price of $255.83 and a two-hundred day moving average price of $220.81. The stock has a market cap of $870.91 billion, a price-to-earnings ratio of 77.73, a PEG ratio of 4.30 and a beta of 2.09. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Tesla from $225.00 to $300.00 in a report on Thursday, July 6th. The Goldman Sachs Group boosted their target price on Tesla from $248.00 to $275.00 and gave the stock a “neutral” rating in a report on Monday, July 3rd. DZ Bank cut Tesla from a “buy” rating to a “sell” rating and set a $210.00 price target for the company. in a report on Friday, June 23rd. Citigroup boosted their price objective on Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 12th. Finally, Mizuho raised their target price on Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $239.43.
Insider Buying and Selling
In other Tesla news, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares in the company, valued at approximately $14,862,374.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the completion of the transaction, the chief financial officer now owns 104,504 shares in the company, valued at $26,128,090.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 1,065 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the sale, the senior vice president now directly owns 59,540 shares in the company, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders have sold a total of 55,815 shares of company stock worth $14,384,135 over the last ninety days. Company insiders own 25.10% of the company’s stock.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.
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