Raymond James & Associates trimmed its stake in Tesla Inc (NASDAQ:TSLA) by 5.9% during the 1st quarter, Holdings Channel reports. The firm owned 74,715 shares of the electric vehicle producer’s stock after selling 4,723 shares during the quarter. Raymond James & Associates’ holdings in Tesla were worth $20,910,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Hanson McClain Inc. increased its position in shares of Tesla by 3.9% in the fourth quarter. Hanson McClain Inc. now owns 994 shares of the electric vehicle producer’s stock worth $331,000 after purchasing an additional 37 shares during the last quarter. Regentatlantic Capital LLC increased its position in shares of Tesla by 5.4% in the fourth quarter. Regentatlantic Capital LLC now owns 879 shares of the electric vehicle producer’s stock worth $293,000 after purchasing an additional 45 shares during the last quarter. Sage Capital Advisors llc increased its position in shares of Tesla by 57.7% in the fourth quarter. Sage Capital Advisors llc now owns 123 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 45 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Tesla by 1.5% in the fourth quarter. Captrust Financial Advisors now owns 3,240 shares of the electric vehicle producer’s stock worth $1,078,000 after purchasing an additional 47 shares during the last quarter. Finally, Westside Investment Management Inc. increased its position in shares of Tesla by 13.8% in the fourth quarter. Westside Investment Management Inc. now owns 412 shares of the electric vehicle producer’s stock worth $137,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 59.71% of the company’s stock.
In other news, Director Brad W. Buss sold 38,540 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $228.37, for a total transaction of $8,801,379.80. Following the completion of the sale, the director now owns 34,874 shares of the company’s stock, valued at $7,964,175.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Elon Musk acquired 102,880 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $243.00 per share, with a total value of $24,999,840.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 117,100 shares of company stock valued at $30,574,286. Insiders own 22.80% of the company’s stock.
TSLA has been the topic of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $450.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Oppenheimer upped their price objective on shares of Tesla from $418.00 to $437.00 and gave the stock an “outperform” rating in a research report on Thursday, January 31st. Wedbush cut shares of Tesla from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $365.00 to $275.00 in a research report on Thursday, April 25th. Berenberg Bank set a $500.00 target price on Tesla and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Canaccord Genuity raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the stock from $330.00 to $450.00 in a research note on Monday, February 11th. Seventeen equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $302.15.
NASDAQ:TSLA opened at $205.36 on Tuesday. The company has a market cap of $36.66 billion, a PE ratio of -35.90 and a beta of 0.27. Tesla Inc has a fifty-two week low of $195.25 and a fifty-two week high of $387.46. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.79.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.51) by ($1.59). The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period last year, the company posted ($3.35) EPS. Sell-side analysts anticipate that Tesla Inc will post -4.64 earnings per share for the current year.
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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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