Tesla Inc (NASDAQ:TSLA) Shares Sold by Global X Management Co LLC

Global X Management Co LLC trimmed its stake in Tesla Inc (NASDAQ:TSLA) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,327 shares of the electric vehicle producer’s stock after selling 5,373 shares during the period. Tesla makes up approximately 0.9% of Global X Management Co LLC’s portfolio, making the stock its 18th biggest holding. Global X Management Co LLC owned approximately 0.09% of Tesla worth $49,840,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its position in Tesla by 150.4% during the second quarter. AdvisorNet Financial Inc now owns 2,785 shares of the electric vehicle producer’s stock valued at $955,000 after acquiring an additional 1,673 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Tesla by 53.1% during the second quarter. Signaturefd LLC now owns 853 shares of the electric vehicle producer’s stock valued at $293,000 after purchasing an additional 296 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Tesla by 10.9% during the second quarter. Macquarie Group Ltd. now owns 62,596 shares of the electric vehicle producer’s stock valued at $21,467,000 after purchasing an additional 6,147 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Tesla during the second quarter valued at approximately $274,000. Finally, Accredited Investors Inc. purchased a new stake in shares of Tesla during the second quarter valued at approximately $221,000. Institutional investors own 62.03% of the company’s stock.

In other Tesla news, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $306.00, for a total value of $306,000.00. Following the transaction, the insider now directly owns 8,598 shares of the company’s stock, valued at $2,630,988. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $573,750.00. Following the transaction, the director now directly owns 150,208 shares in the company, valued at $45,963,648. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

NASDAQ TSLA traded down $5.92 during trading hours on Wednesday, hitting $256.88. The company’s stock had a trading volume of 12,799,500 shares, compared to its average volume of 8,691,174. Tesla Inc has a 12 month low of $244.59 and a 12 month high of $387.46. The company has a market capitalization of $45.17 billion, a price-to-earnings ratio of -22.89 and a beta of 0.84. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.55. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Tesla had a negative return on equity of 50.84% and a negative net margin of 19.89%. Tesla’s revenue for the quarter was up 43.5% on a year-over-year basis. During the same period last year, the company earned ($1.33) EPS. On average, equities analysts predict that Tesla Inc will post -10.77 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on TSLA. Berenberg Bank reissued a “buy” rating and set a $500.00 price objective on shares of Tesla in a research note on Wednesday, August 8th. Jefferies Financial Group increased their price objective on Tesla from $250.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Needham & Company LLC reaffirmed a “sell” rating on shares of Tesla in a research note on Wednesday, August 8th. Sanford C. Bernstein reaffirmed a “neutral” rating and issued a $265.00 price target on shares of Tesla in a research note on Wednesday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $308.00 price target on shares of Tesla in a research note on Wednesday, August 8th. Fifteen analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $306.59.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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