Kathmere Capital Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 19.2% in the second quarter, HoldingsChannel reports. The fund owned 865 shares of the electric vehicle producer’s stock after selling 205 shares during the quarter. Kathmere Capital Management LLC’s holdings in Tesla were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MidWestOne Financial Group Inc. raised its stake in shares of Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after acquiring an additional 15 shares during the period. Linscomb & Williams Inc. lifted its stake in Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after acquiring an additional 42 shares in the last quarter. Indiana Trust & Investment Management CO increased its stake in Tesla by 1.5% during the second quarter. Indiana Trust & Investment Management CO now owns 2,998 shares of the electric vehicle producer’s stock worth $785,000 after purchasing an additional 45 shares during the period. Salem Investment Counselors Inc. boosted its stake in shares of Tesla by 22.3% in the first quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock valued at $283,000 after purchasing an additional 48 shares during the period. Finally, Johnson Bixby & Associates LLC increased its stake in Tesla by 2.1% during the 1st quarter. Johnson Bixby & Associates LLC now owns 2,769 shares of the electric vehicle producer’s stock worth $574,000 after buying an additional 56 shares during the period. 41.87% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the sale, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now owns 66,834 shares of the company’s stock, valued at approximately $16,249,350.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the completion of the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,815 shares of company stock worth $14,384,135. 25.10% of the stock is owned by corporate insiders.
Tesla Stock Performance
Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The firm had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. Tesla’s quarterly revenue was up 47.2% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on TSLA shares. Mizuho upped their price objective on Tesla from $300.00 to $330.00 in a research report on Thursday, July 20th. JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $120.00 and gave the company an “underweight” rating in a research report on Monday, July 3rd. Citigroup upped their target price on shares of Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 12th. Barclays downgraded shares of Tesla from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $260.00 in a research note on Wednesday, June 21st. Finally, DZ Bank downgraded shares of Tesla from a “buy” rating to a “sell” rating and set a $210.00 price objective on the stock. in a research report on Friday, June 23rd. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $239.43.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.
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