Tesla Inc. (TSLA) Shares Sold by Fisher Asset Management LLC
Fisher Asset Management LLC trimmed its stake in Tesla Inc. (NASDAQ:TSLA) by 43.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760 shares of the electric vehicle producer’s stock after selling 574 shares during the quarter. Fisher Asset Management LLC’s holdings in Tesla were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pittenger & Anderson Inc. lifted its position in shares of Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares in the last quarter. Winfield Associates Inc. lifted its position in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. Acropolis Investment Management LLC purchased a new stake in shares of Tesla in the second quarter worth approximately $122,000. North Star Investment Management Corp. lifted its position in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after purchasing an additional 9 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its position in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after purchasing an additional 28 shares in the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.
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A number of analysts have recently issued reports on the stock. Nomura reissued a “buy” rating and issued a $500.00 price target on shares of Tesla in a research report on Tuesday. Evercore ISI reduced their price target on shares of Tesla from $330.00 to $312.00 and set an “outperform” rating for the company in a research report on Sunday. Jefferies Group LLC lowered shares of Tesla from an “in-line” rating to an “underperform” rating and reduced their price target for the stock from $312.00 to $240.00 in a research report on Friday, October 27th. Robert W. Baird restated a “buy” rating and issued a $411.00 price objective on shares of Tesla in a report on Wednesday, October 25th. Finally, Vetr downgraded Tesla from a “sell” rating to a “strong sell” rating and set a $292.39 price objective on the stock. in a report on Monday, October 23rd. Ten equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. Tesla has a consensus rating of “Hold” and an average price target of $332.78.
In other news, VP Eric Branderiz sold 1,736 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the sale, the vice president now directly owns 1,736 shares of the company’s stock, valued at approximately $589,354.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total value of $777,888.00. Following the sale, the director now directly owns 158,584 shares in the company, valued at $56,329,036.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,992 shares of company stock worth $17,390,505. 23.10% of the stock is currently owned by insiders.
Tesla Inc. (NASDAQ TSLA) opened at 331.53 on Wednesday. The firm’s 50 day moving average price is $350.92 and its 200-day moving average price is $341.49. Tesla Inc. has a one year low of $178.19 and a one year high of $389.61. The company’s market capitalization is $55.33 billion.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. Tesla’s quarterly revenue was up 119.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.06) EPS. Equities analysts forecast that Tesla Inc. will post ($6.70) earnings per share for the current fiscal year.
Tesla Company Profile
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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