Eaton Vance Management lowered its position in shares of Tesla Motors Inc. (NASDAQ:TSLA) by 9.5% during the second quarter, Holdings Channel reports. The fund owned 3,442 shares of the electric vehicle producer’s stock after selling 360 shares during the period. Eaton Vance Management’s holdings in Tesla Motors were worth $731,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sii Investments Inc. WI raised its position in Tesla Motors by 15.6% in the first quarter. Sii Investments Inc. WI now owns 1,113 shares of the electric vehicle producer’s stock worth $255,000 after buying an additional 150 shares during the last quarter. Aperio Group LLC raised its position in Tesla Motors by 23.1% in the first quarter. Aperio Group LLC now owns 21,506 shares of the electric vehicle producer’s stock worth $4,941,000 after buying an additional 4,040 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its position in Tesla Motors by 5.7% in the first quarter. Nisa Investment Advisors L.L.C. now owns 3,700 shares of the electric vehicle producer’s stock worth $850,000 after buying an additional 200 shares during the last quarter. Virginia Retirement System bought a new position in Tesla Motors during the first quarter worth $366,000. Finally, Manchester Capital Management LLC raised its position in Tesla Motors by 930.7% in the first quarter. Manchester Capital Management LLC now owns 1,577 shares of the electric vehicle producer’s stock worth $362,000 after buying an additional 1,424 shares during the last quarter. 66.62% of the stock is owned by institutional investors and hedge funds.
Tesla Motors Inc. (NASDAQ:TSLA) traded down 1.08% during midday trading on Thursday, hitting $204.04. The company had a trading volume of 1,136,958 shares. The stock has a 50 day moving average price of $211.13 and a 200-day moving average price of $222.71. The stock’s market capitalization is $30.34 billion. Tesla Motors Inc. has a 52 week low of $141.05 and a 52 week high of $269.34.
Tesla Motors (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by $0.55. The firm 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 company’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the firm earned ($0.48) earnings per share. On average, equities analysts predict that Tesla Motors Inc. will post ($0.95) EPS for the current year.
TSLA has been the subject of several recent analyst reports. Argus reissued a “buy” rating and set a $333.00 price objective on shares of Tesla Motors in a report on Wednesday, June 1st. Vetr raised Tesla Motors from a “buy” rating to a “strong-buy” rating and set a $251.08 price objective for the company in a report on Wednesday, June 1st. Sterne Agee CRT initiated coverage on Tesla Motors in a report on Thursday, June 2nd. They set a “buy” rating and a $300.00 price objective for the company. Zacks Investment Research lowered Tesla Motors from a “hold” rating to a “sell” rating in a report on Wednesday, June 8th. Finally, Piper Jaffray Cos. initiated coverage on Tesla Motors in a report on Thursday, June 9th. They set a “neutral” rating and a $223.00 price objective for the company. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Tesla Motors presently has a consensus rating of “Hold” and an average price target of $248.60.
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.
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla Motors Inc. (NASDAQ:TSLA).
Receive News & Ratings for Tesla Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Motors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.