Gemmer Asset Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 35.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 714 shares of the electric vehicle producer’s stock after selling 400 shares during the quarter. Gemmer Asset Management LLC’s holdings in Tesla were worth $477,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Hohimer Wealth Management LLC boosted its stake in shares of Tesla by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 1,552 shares of the electric vehicle producer’s stock worth $1,095,000 after acquiring an additional 12 shares in the last quarter. SNS Financial Group LLC grew its holdings in Tesla by 0.3% in the fourth quarter. SNS Financial Group LLC now owns 3,824 shares of the electric vehicle producer’s stock valued at $2,698,000 after purchasing an additional 12 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its position in shares of Tesla by 1.2% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 1,098 shares of the electric vehicle producer’s stock valued at $775,000 after buying an additional 13 shares in the last quarter. Lincoln Capital Corp raised its stake in shares of Tesla by 1.2% during the 1st quarter. Lincoln Capital Corp now owns 1,164 shares of the electric vehicle producer’s stock worth $777,000 after buying an additional 14 shares during the last quarter. Finally, WP Advisors LLC boosted its position in shares of Tesla by 1.9% in the 4th quarter. WP Advisors LLC now owns 800 shares of the electric vehicle producer’s stock worth $565,000 after buying an additional 15 shares in the last quarter. Institutional investors own 41.39% of the company’s stock.
In other news, Director Kimbal Musk sold 30,000 shares of the company’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $852.12, for a total value of $25,563,600.00. Following the completion of the sale, the director now owns 621,769 shares in the company, valued at $529,821,800.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 27th. The shares were sold at an average price of $870.35, for a total transaction of $1,305,525.00. Following the sale, the senior vice president now directly owns 20,726 shares of the company’s stock, valued at $18,038,874.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,653 shares of company stock valued at $63,536,274. Company insiders own 23.00% of the company’s stock.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 27th. The electric vehicle producer reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.17. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.38 billion. Tesla had a return on equity of 4.93% and a net margin of 1.97%. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, analysts expect that Tesla, Inc. will post 1.02 earnings per share for the current fiscal year.
TSLA has been the topic of several research reports. Wedbush reiterated a “buy” rating and issued a $1,000.00 price target on shares of Tesla in a research report on Friday, April 9th. Exane BNP Paribas downgraded Tesla from a “neutral” rating to an “underperform” rating and set a $340.00 price objective on the stock. in a research report on Tuesday, January 5th. JPMorgan Chase & Co. lifted their price objective on Tesla from $135.00 to $155.00 and gave the stock an “underweight” rating in a research report on Monday, April 5th. BNP Paribas downgraded shares of Tesla from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $385.00 to $340.00 in a report on Tuesday, January 5th. Finally, Jefferies Financial Group restated a “hold” rating and set a $700.00 target price (down previously from $775.00) on shares of Tesla in a research report on Monday, March 29th. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $382.74.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits.
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