Gerber Kawasaki Wealth & Investment Management raised its position in Tesla Inc (NASDAQ:TSLA) by 44.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,239 shares of the electric vehicle producer’s stock after buying an additional 8,721 shares during the period. Tesla comprises 3.6% of Gerber Kawasaki Wealth & Investment Management’s portfolio, making the stock its 7th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Tesla were worth $8,330,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of TSLA. FMR LLC increased its stake in Tesla by 13.3% in the fourth quarter. FMR LLC now owns 22,050,401 shares of the electric vehicle producer’s stock worth $4,711,950,000 after buying an additional 2,582,730 shares in the last quarter. Baillie Gifford & Co. increased its stake in Tesla by 3.5% in the fourth quarter. Baillie Gifford & Co. now owns 13,289,548 shares of the electric vehicle producer’s stock worth $2,839,843,000 after buying an additional 454,467 shares in the last quarter. Jennison Associates LLC increased its stake in Tesla by 7.6% in the first quarter. Jennison Associates LLC now owns 2,869,480 shares of the electric vehicle producer’s stock worth $798,576,000 after buying an additional 203,034 shares in the last quarter. State Street Corp increased its stake in Tesla by 6.9% in the fourth quarter. State Street Corp now owns 2,271,484 shares of the electric vehicle producer’s stock worth $485,388,000 after buying an additional 146,901 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in Tesla by 7.7% in the third quarter. Bamco Inc. NY now owns 1,555,911 shares of the electric vehicle producer’s stock worth $317,452,000 after buying an additional 111,256 shares in the last quarter. 57.29% of the stock is owned by institutional investors and hedge funds.
Tesla Inc (NASDAQ:TSLA) traded up 2.62% during trading on Friday, hitting $325.14. The stock had a trading volume of 7,802,199 shares. The firm has a 50 day moving average of $310.91 and a 200-day moving average of $253.96. Tesla Inc has a one year low of $178.19 and a one year high of $327.66. The company’s market cap is $53.41 billion. Tesla also was the recipient of some unusual options trading on Friday. Traders purchased 104,590 put options on the stock. This represents an increase of approximately 127% compared to the average volume of 46,176 put options.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. Equities analysts anticipate that Tesla Inc will post ($5.80) earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on TSLA shares. Robert W. Baird restated a “buy” rating and set a $338.00 price target on shares of Tesla in a research note on Thursday, February 9th. Dougherty & Co cut their price target on Tesla from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Guggenheim reiterated a “buy” rating and set a $300.00 price objective on shares of Tesla in a research note on Monday, February 27th. Zacks Investment Research upgraded Tesla from a “hold” rating to a “buy” rating and set a $345.00 price objective for the company in a research note on Tuesday, April 25th. Finally, Pacific Crest reiterated an “equal weight” rating on shares of Tesla in a research note on Thursday, February 23rd. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. Tesla presently has a consensus rating of “Hold” and a consensus target price of $274.06.
In related news, insider Jeffrey B. Straubel sold 109,100 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $307.81, for a total value of $33,582,071.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Elon Musk acquired 95,420 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average price of $262.00 per share, for a total transaction of $25,000,040.00. The disclosure for this purchase can be found here. Insiders sold a total of 242,791 shares of company stock worth $74,745,344 in the last quarter. Company 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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