Northern Trust Corp Raises Stock Holdings in Tesla Inc (NASDAQ:TSLA)
Northern Trust Corp boosted its position in shares of Tesla Inc (NASDAQ:TSLA) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 928,974 shares of the electric vehicle producer’s stock after acquiring an additional 4,913 shares during the quarter. Northern Trust Corp owned about 0.52% of Tesla worth $207,588,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Tesla by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 102,459 shares of the electric vehicle producer’s stock valued at $34,103,000 after acquiring an additional 2,076 shares during the period. Comerica Bank lifted its stake in shares of Tesla by 24.7% in the 1st quarter. Comerica Bank now owns 5,868 shares of the electric vehicle producer’s stock valued at $1,620,000 after purchasing an additional 1,163 shares during the period. California Public Employees Retirement System boosted its holdings in Tesla by 0.7% during the first quarter. California Public Employees Retirement System now owns 216,376 shares of the electric vehicle producer’s stock worth $60,555,000 after buying an additional 1,520 shares in the last quarter. First Allied Advisory Services Inc. boosted its holdings in Tesla by 12.6% during the first quarter. First Allied Advisory Services Inc. now owns 7,118 shares of the electric vehicle producer’s stock worth $1,998,000 after buying an additional 798 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Tesla by 72.2% during the first quarter. Cetera Investment Advisers now owns 1,283 shares of the electric vehicle producer’s stock valued at $360,000 after buying an additional 538 shares during the period. Institutional investors and hedge funds own 54.44% of the company’s stock.
TSLA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. set a $200.00 price objective on shares of Tesla and gave the company a “sell” rating in a report on Thursday, July 25th. Nomura set a $270.00 target price on shares of Tesla and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Canaccord Genuity dropped their target price on Tesla from $394.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Goldman Sachs Group restated a “sell” rating and issued a $158.00 price target on shares of Tesla in a research note on Thursday, July 25th. Finally, Robert W. Baird lowered their price target on Tesla from $400.00 to $340.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Eighteen analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $269.53.
NASDAQ:TSLA traded up $12.57 on Wednesday, reaching $248.11. The company’s stock had a trading volume of 898,299 shares, compared to its average volume of 5,801,114. Tesla Inc has a 12-month low of $176.99 and a 12-month high of $379.49. The stock has a 50 day moving average price of $228.18 and a 200 day moving average price of $242.03. The firm has a market cap of $41.52 billion, a price-to-earnings ratio of -43.29 and a beta of 0.54. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($0.76). The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The business’s revenue for the quarter was up 58.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.06) earnings per share. Equities research analysts expect that Tesla Inc will post -7.51 EPS for the current fiscal 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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