State of Alaska Department of Revenue bought a new position in Tesla Inc (NASDAQ:TSLA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 724 shares of the electric vehicle producer’s stock, valued at approximately $201,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance purchased a new stake in Tesla during the fourth quarter worth about $102,000. Parallel Advisors LLC purchased a new stake in Tesla during the fourth quarter worth about $104,000. Cable Hill Partners LLC increased its stake in Tesla by 36.1% in the third quarter. Cable Hill Partners LLC now owns 693 shares of the electric vehicle producer’s stock worth $139,000 after buying an additional 184 shares in the last quarter. Vista Capital Partners Inc. purchased a new stake in Tesla during the first quarter worth about $202,000. Finally, Gemmer Asset Management LLC increased its stake in Tesla by 8.3% in the first quarter. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer’s stock worth $211,000 after buying an additional 58 shares in the last quarter. 57.29% of the stock is owned by institutional investors and hedge funds.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion.
WARNING: This news story was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/05/20/724-shares-in-tesla-inc-tsla-acquired-by-state-of-alaska-department-of-revenue-updated.html.
TSLA has been the subject of a number of analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $368.00 price target on shares of Tesla in a report on Monday, May 15th. Pacific Crest reaffirmed a “market perform” rating on shares of Tesla in a report on Monday, May 15th. Sanford C. Bernstein reissued a “market perform” rating and set a $250.00 price objective on shares of Tesla in a research note on Monday, May 15th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Tesla in a research note on Friday, February 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Tesla from $185.00 to $190.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Eight research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. Tesla presently has a consensus rating of “Hold” and an average target price of $274.06.
In other news, VP John Douglas Field sold 500 shares of the business’s stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $301.45, for a total transaction of $150,725.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey B. Straubel sold 109,100 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $307.81, for a total transaction of $33,582,071.00. The disclosure for this sale can be found here. Insiders sold 242,791 shares of company stock valued at $74,745,344 in the last ninety days. 27.70% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for Tesla Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Inc and related companies with MarketBeat.com's FREE daily email newsletter.