Ibex Investors LLC acquired a new position in shares of Tesla Inc (NASDAQ:TSLA) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,079 shares of the electric vehicle producer’s stock, valued at approximately $1,981,000. Tesla accounts for 0.2% of Ibex Investors LLC’s portfolio, making the stock its 22nd biggest position.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in shares of Tesla by 0.8% in the fourth quarter. Baillie Gifford & Co. now owns 13,234,382 shares of the electric vehicle producer’s stock valued at $4,404,403,000 after purchasing an additional 108,931 shares during the period. Vanguard Group Inc increased its stake in shares of Tesla by 0.8% in the third quarter. Vanguard Group Inc now owns 7,036,426 shares of the electric vehicle producer’s stock valued at $1,863,034,000 after purchasing an additional 59,018 shares during the period. Jennison Associates LLC increased its stake in shares of Tesla by 10.5% in the fourth quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock valued at $1,771,281,000 after purchasing an additional 505,076 shares during the period. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $470,949,000. Finally, Northern Trust Corp increased its stake in shares of Tesla by 7.4% in the fourth quarter. Northern Trust Corp now owns 914,631 shares of the electric vehicle producer’s stock valued at $304,389,000 after purchasing an additional 63,066 shares during the period. Hedge funds and other institutional investors own 59.71% of the company’s stock.
Several equities research analysts have commented on the stock. Royal Bank of Canada restated a “sell” rating and issued a $245.00 price target on shares of Tesla in a research note on Wednesday, February 6th. DZ Bank restated a “sell” rating on shares of Tesla in a research note on Monday, February 4th. Morgan Stanley restated an “equal weight” rating and issued a $283.00 price target (down previously from $291.00) on shares of Tesla in a research note on Tuesday, February 5th. BidaskClub upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, UBS Group restated a “sell” rating and issued a $230.00 price target on shares of Tesla in a research note on Friday, January 18th. Sixteen investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $303.47.
In related news, insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $267.50, for a total transaction of $4,012,500.00. Following the completion of the sale, the insider now directly owns 306,748 shares in the company, valued at $82,055,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Antonio J. Gracias sold 16,780 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $306.01, for a total transaction of $5,134,847.80. Following the sale, the director now owns 19,572 shares of the company’s stock, valued at $5,989,227.72. The disclosure for this sale can be found here. Insiders have sold 95,340 shares of company stock valued at $26,907,754 over the last 90 days. 22.80% of the stock is currently owned by insiders.
NASDAQ:TSLA traded down $1.23 during trading hours on Wednesday, reaching $231.08. 149,785 shares of the company’s stock were exchanged, compared to its average volume of 11,337,129. The stock has a market capitalization of $39.44 billion, a price-to-earnings ratio of -40.37 and a beta of 0.27. Tesla Inc has a 12 month low of $224.50 and a 12 month high of $387.46. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.42 and a current ratio of 0.83.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.51) by ($1.59). The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $5.18 billion. Tesla had a negative return on equity of 18.23% and a negative net margin of 4.29%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.35) earnings per share. On average, sell-side analysts expect that Tesla Inc will post -4.64 EPS for the current fiscal year.
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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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