ING Groep NV raised its stake in Tesla Motors Inc. (NASDAQ:TSLA) by 245.5% during the second quarter, Holdings Channel reports. The fund owned 6,416 shares of the electric vehicle producer’s stock after buying an additional 4,559 shares during the period. ING Groep NV’s holdings in Tesla Motors were worth $1,362,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Tesla Motors by 4.1% in the first quarter. Legal & General Group Plc now owns 350,424 shares of the electric vehicle producer’s stock valued at $80,517,000 after buying an additional 13,687 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Tesla Motors by 45.9% in the second quarter. Nisa Investment Advisors LLC now owns 5,400 shares of the electric vehicle producer’s stock valued at $1,146,000 after buying an additional 1,700 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in shares of Tesla Motors during the first quarter valued at about $11,489,000. AMP Capital Investors Ltd boosted its stake in shares of Tesla Motors by 5.2% in the first quarter. AMP Capital Investors Ltd now owns 28,453 shares of the electric vehicle producer’s stock valued at $6,456,000 after buying an additional 1,400 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Tesla Motors during the first quarter valued at about $2,467,000. 66.62% of the stock is owned by institutional investors and hedge funds.
Shares of Tesla Motors Inc. (NASDAQ:TSLA) traded down 3.58% during trading on Thursday, reaching $201.00. The company had a trading volume of 4,703,402 shares. The stock’s market capitalization is $29.89 billion. Tesla Motors Inc. has a 12 month low of $141.05 and a 12 month high of $269.34. The stock’s 50-day moving average price is $208.22 and its 200-day moving average price is $222.16.
Tesla Motors (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.55. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the company posted ($0.48) earnings per share. Equities analysts forecast that Tesla Motors Inc. will post ($0.93) earnings per share for the current fiscal year.
TSLA has been the subject of several analyst reports. Robert W. Baird restated an “outperform” rating and issued a $338.00 target price on shares of Tesla Motors in a report on Sunday, September 4th. Pacific Crest restated a “hold” rating on shares of Tesla Motors in a report on Wednesday, September 28th. Cowen and Company initiated coverage on Tesla Motors in a report on Thursday, September 8th. They issued an “underperform” rating and a $160.00 target price for the company. Vetr upgraded Tesla Motors from a “hold” rating to a “buy” rating and set a $216.13 target price for the company in a report on Tuesday, September 27th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $245.00 target price on shares of Tesla Motors in a report on Wednesday. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $246.38.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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