Principal Financial Group Inc. cut its stake in shares of Tesla Inc (NASDAQ:TSLA) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,903 shares of the electric vehicle producer’s stock after selling 1,872 shares during the quarter. Principal Financial Group Inc.’s holdings in Tesla were worth $2,355,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Trexquant Investment LP acquired a new stake in Tesla in the second quarter valued at $341,000. Schwab Charles Investment Management Inc. increased its position in shares of Tesla by 9.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 216,190 shares of the electric vehicle producer’s stock valued at $78,177,000 after buying an additional 18,848 shares in the last quarter. First Trust Advisors LP increased its position in shares of Tesla by 36.4% in the second quarter. First Trust Advisors LP now owns 99,088 shares of the electric vehicle producer’s stock valued at $35,831,000 after buying an additional 26,423 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Tesla by 31.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 11,778 shares of the electric vehicle producer’s stock valued at $4,437,000 after buying an additional 2,821 shares in the last quarter. Finally, IFC Holdings Incorporated FL increased its position in shares of Tesla by 6.6% in the second quarter. IFC Holdings Incorporated FL now owns 984 shares of the electric vehicle producer’s stock valued at $355,000 after buying an additional 61 shares in the last quarter. 57.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Tesla Inc (NASDAQ:TSLA) traded down $3.28 during midday trading on Wednesday, hitting $317.25. The stock had a trading volume of 4,270,700 shares, compared to its average volume of 5,810,000. Tesla Inc has a 1-year low of $210.96 and a 1-year 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. The company has a market cap of $53,320.00, a P/E ratio of -37.06 and a beta of 0.94.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. research analysts forecast that Tesla Inc will post -11.38 EPS for the current year.
In related news, VP John Douglas Field sold 1,400 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $340.67, for a total transaction of $476,938.00. Following the completion of the transaction, the vice president now directly owns 21,528 shares in the company, valued at approximately $7,333,943.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $330.29, for a total value of $723,335.10. Following the transaction, the director now owns 154,419 shares of the company’s stock, valued at $51,003,051.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,627 shares of company stock valued at $3,423,398. 23.10% of the stock is owned by company insiders.
A number of research analysts have recently weighed in on the company. Robert W. Baird restated a “buy” rating and issued a $411.00 price target on shares of Tesla in a research report on Friday, September 29th. KeyCorp reiterated a “hold” rating and set a $240.00 price objective on shares of Tesla in a research report on Wednesday, December 27th. Vetr cut Tesla from a “sell” rating to a “strong sell” rating and set a $298.58 price objective for the company. in a research report on Tuesday, September 26th. Morgan Stanley reiterated an “equal weight” rating and set a $317.00 price objective on shares of Tesla in a research report on Tuesday, October 3rd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $386.00 price objective on shares of Tesla in a research report on Wednesday, September 27th. Twelve 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 company presently has an average rating of “Hold” and an average price target of $329.47.
Tesla Profile
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.
Read Again https://ledgergazette.com/2018/01/04/tesla-inc-tsla-shares-sold-by-principal-financial-group-inc.htmlBagikan Berita Ini
0 Response to "Principal Financial Group Inc. Has $2.36 Million Stake in Tesla Inc (TSLA)"
Post a Comment