D.A. Davidson & CO. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,624 shares of the electric vehicle producer’s stock after selling 966 shares during the period. D.A. Davidson & CO.’s holdings in Tesla were worth $698,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Truewealth LLC bought a new stake in shares of Tesla during the 4th quarter worth $102,000. Jacobi Capital Management LLC raised its stake in shares of Tesla by 154.4% during the 1st quarter. Jacobi Capital Management LLC now owns 430 shares of the electric vehicle producer’s stock worth $109,000 after purchasing an additional 261 shares during the period. Avestar Capital LLC bought a new stake in shares of Tesla during the 4th quarter worth $144,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Tesla during the 1st quarter worth $201,000. Finally, FDx Advisors Inc. bought a new stake in shares of Tesla during the 4th quarter worth $203,000. Institutional investors own 57.92% of the company’s stock.
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In other Tesla news, CEO Elon Musk acquired 33,000 shares of the business’s stock in a transaction dated Monday, May 7th. The stock was bought at an average price of $298.50 per share, with a total value of $9,850,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Eric Branderiz sold 401 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $353.50, for a total value of $141,753.50. Following the transaction, the vice president now directly owns 1,248 shares of the company’s stock, valued at approximately $441,168. The disclosure for this sale can be found here. Insiders have sold 3,728 shares of company stock valued at $1,172,762 in the last three months. 22.80% of the stock is owned by insiders.
Shares of NASDAQ TSLA opened at $286.48 on Thursday. Tesla, Inc. has a 12 month low of $281.73 and a 12 month high of $286.71. The company has a quick ratio of 0.44, a current ratio of 0.74 and a debt-to-equity ratio of 1.65. The stock has a market cap of $49.57 billion, a PE ratio of -24.95 and a beta of 1.11.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, May 2nd. The electric vehicle producer reported ($3.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.40) by ($0.95). Tesla had a negative return on equity of 40.72% and a negative net margin of 18.77%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.30 billion. During the same period in the previous year, the firm posted ($1.33) EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. sell-side analysts anticipate that Tesla, Inc. will post -10.94 EPS for the current year.
A number of research firms have recently commented on TSLA. BidaskClub upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Vetr lowered Tesla from a “hold” rating to a “sell” rating and set a $341.15 price objective for the company. in a report on Monday, February 26th. Zacks Investment Research lowered Tesla from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. KeyCorp reissued a “hold” rating on shares of Tesla in a report on Tuesday, March 13th. Finally, Morgan Stanley set a $379.00 price objective on Tesla and gave the stock a “neutral” rating in a report on Thursday, February 8th. Thirteen research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Tesla currently has a consensus rating of “Hold” and an average target price of $301.70.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, 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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