Eqis Capital Management Inc. raised its stake in Tesla Inc (NASDAQ:TSLA) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 2,515 shares of the electric vehicle producer’s stock after buying an additional 29 shares during the period. Eqis Capital Management Inc.’s holdings in Tesla were worth $700,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Crestwood Advisors Group LLC acquired a new position in shares of Tesla during the first quarter valued at approximately $101,000. Independent Advisor Alliance acquired a new position in shares of Tesla during the fourth quarter valued at approximately $102,000. Advisory Services Network LLC acquired a new position in shares of Tesla during the first quarter valued at approximately $122,000. Parallel Advisors LLC acquired a new position in shares of Tesla during the fourth quarter valued at approximately $104,000. Finally, Korea Investment CORP raised its position in shares of Tesla by 225.0% in the first quarter. Korea Investment CORP now owns 494 shares of the electric vehicle producer’s stock valued at $137,000 after buying an additional 342 shares during the last quarter. 57.29% of the stock is owned by institutional investors.
Tesla Inc (NASDAQ:TSLA) traded up 4.36% during midday trading on Friday, hitting $308.35. The stock had a trading volume of 8,177,347 shares. The stock’s market cap is $49.85 billion. Tesla Inc has a 52-week low of $178.19 and a 52-week high of $327.66. The company’s 50 day moving average price is $293.58 and its 200-day moving average price is $241.13. Tesla also was the recipient of unusually large options trading on Wednesday. Stock traders bought 41,694 call options on the stock. This is an increase of 260% compared to the typical volume of 11,584 call options.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. The company earned $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Tesla had a negative return on equity of 29.17% and a negative net margin of 14.74%. Analysts forecast that Tesla Inc will post ($2.53) EPS for the current fiscal year.
Several analysts have issued reports on TSLA shares. Bank of America Corp cut their target price on Tesla from $170.00 to $165.00 and set an “underperform” rating for the company in a research note on Wednesday, April 26th. Pacific Crest reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday. Cowen and Company reaffirmed an “underperform” rating and issued a $155.00 target price on shares of Tesla in a research note on Monday, May 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $250.00 target price on shares of Tesla in a research note on Friday. Finally, Guggenheim reaffirmed a “buy” rating and issued a $380.00 target price (up previously from $320.00) on shares of Tesla in a research note on Friday. Eight investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $273.13.
In other news, Director Kimbal Musk sold 2,500 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $315.67, for a total value of $789,175.00. Following the completion of the transaction, the director now directly owns 168,355 shares of the company’s stock, valued at approximately $53,144,622.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Antonio J. Gracias sold 5,600 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $254.44, for a total value of $1,424,864.00. Following the completion of the transaction, the director now directly owns 5,600 shares of the company’s stock, valued at $1,424,864. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,291 shares of company stock valued at $3,764,297. Corporate insiders own 27.70% of the company’s stock.
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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