B. Riley Wealth Management Inc. purchased a new position in shares of Tesla Inc (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,845 shares of the electric vehicle producer’s stock, valued at approximately $489,000.
A number of other hedge funds also recently modified their holdings of the stock. Alps Advisors Inc. bought a new position in shares of Tesla in the 2nd quarter worth about $500,000. Standard Life Aberdeen plc acquired a new stake in shares of Tesla in the 2nd quarter worth about $2,565,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Tesla in the 2nd quarter worth about $382,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Tesla by 8.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,064 shares of the electric vehicle producer’s stock worth $2,080,000 after acquiring an additional 476 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Tesla in the 2nd quarter worth about $432,000. 59.29% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:TSLA traded up $2.29 on Friday, hitting $347.26. The stock had a trading volume of 5,035,789 shares, compared to its average volume of 7,137,900. Tesla Inc has a twelve month low of $244.59 and a twelve month high of $387.46. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.81. The company has a market capitalization of $58.14 billion, a PE ratio of -30.25, a P/E/G ratio of 5.18 and a beta of 0.57.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $5.67 billion. On average, analysts forecast that Tesla Inc will post -5.21 EPS for the current year.
Several research firms have commented on TSLA. Sanford C. Bernstein set a $325.00 target price on shares of Tesla and gave the company a “neutral” rating in a research note on Monday, September 17th. Morgan Stanley set a $291.00 target price on shares of Tesla and gave the company a “hold” rating in a research note on Tuesday, September 18th. UBS Group set a $190.00 price objective on shares of Tesla and gave the company a “sell” rating in a research report on Tuesday, September 18th. Vertical Group restated a “sell” rating on shares of Tesla in a research report on Wednesday, September 19th. Finally, Goldman Sachs Group set a $210.00 price objective on shares of Tesla and gave the company a “sell” rating in a research report on Monday, September 24th. Twelve equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $324.77.
In other Tesla news, insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction dated Saturday, December 28th. The stock was sold at an average price of $325.64, for a total transaction of $4,884,600.00. Following the completion of the sale, the insider now directly owns 311,398 shares of the company’s stock, valued at approximately $101,403,644.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $340.68, for a total value of $1,022,040.00. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $1,022,040. The disclosure for this sale can be found here. Insiders sold 64,590 shares of company stock valued at $21,435,806 over the last ninety days. 22.80% of the stock is currently owned by company insiders.
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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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