Jacobs & Co. CA trimmed its holdings in Tesla Inc (NASDAQ:TSLA) by 89.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,417 shares of the electric vehicle producer’s stock after selling 12,203 shares during the period. Jacobs & Co. CA’s holdings in Tesla were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Alps Advisors Inc. increased its position in Tesla by 21.3% during the third quarter. Alps Advisors Inc. now owns 19,061 shares of the electric vehicle producer’s stock worth $4,591,000 after purchasing an additional 3,348 shares during the last quarter. Bartlett & Co. LLC boosted its stake in Tesla by 521.8% during the third quarter. Bartlett & Co. LLC now owns 342 shares of the electric vehicle producer’s stock worth $82,000 after buying an additional 287 shares during the period. Huntington National Bank boosted its stake in Tesla by 21.0% during the third quarter. Huntington National Bank now owns 605 shares of the electric vehicle producer’s stock worth $146,000 after buying an additional 105 shares during the period. United Asset Strategies Inc. purchased a new position in Tesla during the third quarter worth about $205,000. Finally, IFM Investors Pty Ltd boosted its stake in Tesla by 50.7% during the third quarter. IFM Investors Pty Ltd now owns 14,232 shares of the electric vehicle producer’s stock worth $3,428,000 after buying an additional 4,787 shares during the period. Institutional investors and hedge funds own 54.61% of the company’s stock.
Several brokerages have weighed in on TSLA. Argus set a $396.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Friday, October 25th. Oppenheimer increased their target price on shares of Tesla from $356.00 to $385.00 in a research note on Thursday, October 24th. Barclays raised their price objective on shares of Tesla from $150.00 to $200.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. BidaskClub raised shares of Tesla from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 11th. Finally, CIBC lowered their price objective on shares of Tesla from $437.00 to $356.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Eighteen investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $261.90.
In related news, SVP Andrew D. Baglino sold 2,366 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $313.25, for a total transaction of $741,149.50. Following the completion of the sale, the senior vice president now owns 3,288 shares of the company’s stock, valued at approximately $1,029,966. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jerome M. Guillen sold 2,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $316.32, for a total transaction of $632,640.00. Following the sale, the insider now directly owns 10,973 shares of the company’s stock, valued at approximately $3,470,979.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,816 shares of company stock valued at $3,923,060. Corporate insiders own 24.40% of the company’s stock.
Tesla stock traded up $1.60 during trading on Friday, reaching $337.14. The stock had a trading volume of 6,069,100 shares, compared to its average volume of 9,226,134. Tesla Inc has a 52-week low of $176.99 and a 52-week high of $379.49. The business has a 50 day moving average price of $268.78 and a 200 day moving average price of $237.89. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.64. The stock has a market cap of $57.18 billion, a PE ratio of -58.94 and a beta of 0.58.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $2.28. Tesla had a negative net margin of 3.39% and a negative return on equity of 13.42%. The company had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter in the prior year, the company posted $2.90 EPS. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities analysts predict that Tesla Inc will post -5.12 EPS for the current fiscal year.
Tesla Company Profile
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.
Read More: Price to Earnings Ratio (PE)
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla Inc (NASDAQ:TSLA).