Everett Harris & Co. CA Acquires Shares of 217 Tesla Inc (NASDAQ:TSLA)
Everett Harris & Co. CA acquired a new position in shares of Tesla Inc (NASDAQ:TSLA) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 217 shares of the electric vehicle producer’s stock, valued at approximately $234,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in Tesla by 10.4% in the first quarter. Jennison Associates LLC now owns 4,320,630 shares of the electric vehicle producer’s stock worth $2,264,010,000 after purchasing an additional 408,744 shares in the last quarter. Primecap Management Co. CA grew its holdings in Tesla by 0.6% during the 1st quarter. Primecap Management Co. CA now owns 1,545,640 shares of the electric vehicle producer’s stock worth $809,915,000 after acquiring an additional 8,510 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in Tesla by 52,300.0% during the 1st quarter. J.Safra Asset Management Corp now owns 1,310,000 shares of the electric vehicle producer’s stock worth $250,000 after acquiring an additional 1,307,500 shares during the last quarter. Legal & General Group Plc increased its position in Tesla by 4.9% in the 1st quarter. Legal & General Group Plc now owns 774,042 shares of the electric vehicle producer’s stock valued at $404,759,000 after acquiring an additional 35,997 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Tesla by 23.9% in the first quarter. Swiss National Bank now owns 524,653 shares of the electric vehicle producer’s stock worth $274,918,000 after acquiring an additional 101,100 shares during the last quarter. Institutional investors and hedge funds own 50.37% of the company’s stock.
TSLA opened at $1,430.76 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.98. Tesla Inc has a 12-month low of $211.00 and a 12-month high of $1,794.99. The business has a 50 day moving average of $1,259.00 and a 200-day moving average of $833.62. The stock has a market cap of $265.22 billion, a price-to-earnings ratio of 745.19, a PEG ratio of 25.76 and a beta of 1.19.
Several research analysts recently weighed in on TSLA shares. JMP Securities cut shares of Tesla from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 21st. ValuEngine downgraded Tesla from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. BidaskClub upgraded Tesla from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. set a $295.00 price target on Tesla and gave the stock a “sell” rating in a report on Wednesday, July 22nd. Finally, Bank of America raised their price target on Tesla from $500.00 to $800.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 22nd. Thirteen research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $846.94.
In other news, CAO Vaibhav Taneja sold 500 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $815.00, for a total transaction of $407,500.00. Following the completion of the sale, the chief accounting officer now owns 2,456 shares in the company, valued at $2,001,640. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $827.00, for a total value of $124,050.00. Following the completion of the transaction, the chief financial officer now directly owns 11,132 shares in the company, valued at approximately $9,206,164. The disclosure for this sale can be found here. Insiders sold 23,910 shares of company stock worth $24,705,348 over the last three months. Insiders own 23.00% of the company’s stock.
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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