Whale Rock Capital Management LLC lessened its stake in Tesla Inc (NASDAQ:TSLA) by 14.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,672 shares of the electric vehicle producer’s stock after selling 27,506 shares during the period. Tesla accounts for approximately 2.8% of Whale Rock Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Whale Rock Capital Management LLC owned about 0.09% of Tesla worth $53,441,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Flagship Harbor Advisors LLC grew its stake in Tesla by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock valued at $309,000 after purchasing an additional 4 shares during the last quarter. Sterling Investment Advisors Ltd. grew its stake in Tesla by 2.2% in the second quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after purchasing an additional 18 shares during the last quarter. Hanson McClain Inc. grew its stake in Tesla by 2.1% in the second quarter. Hanson McClain Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $353,000 after purchasing an additional 20 shares during the last quarter. WASHINGTON TRUST Co grew its stake in Tesla by 1.7% in the second quarter. WASHINGTON TRUST Co now owns 1,178 shares of the electric vehicle producer’s stock valued at $426,000 after purchasing an additional 20 shares during the last quarter. Finally, Essex Financial Services Inc. grew its stake in Tesla by 2.4% in the second quarter. Essex Financial Services Inc. now owns 1,159 shares of the electric vehicle producer’s stock valued at $419,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 57.20% of the company’s stock.
In other Tesla news, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $341.69, for a total value of $748,301.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eric Branderiz sold 1,229 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $312.61, for a total value of $384,197.69. Following the completion of the transaction, the vice president now directly owns 4,808 shares of the company’s stock, valued at $1,503,028.88. The disclosure for this sale can be found here. Insiders sold 11,417 shares of company stock valued at $3,694,761 over the last three months. 23.10% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on TSLA shares. Robert W. Baird reiterated a “buy” rating and issued a $411.00 target price on shares of Tesla in a research note on Friday, September 29th. Nomura started coverage on Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target on the stock. Instinet started coverage on Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target on the stock. Guggenheim restated a “buy” rating and set a $430.00 price target on shares of Tesla in a research note on Friday, October 6th. Finally, Piper Jaffray Companies set a $386.00 price target on Tesla and gave the stock a “buy” rating in a research note on Monday, October 16th. Twelve equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $331.56.Shares of Tesla Inc (NASDAQ:TSLA) opened at $315.13 on Friday. Tesla Inc has a 52-week low of $190.81 and a 52-week high of $389.61. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $0.71 earnings per share. Tesla’s revenue for the quarter was up 29.9% on a year-over-year basis. equities analysts anticipate that Tesla Inc will post -11.38 EPS for the current year.
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About Tesla
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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