Whittier Trust Co. of Nevada Inc. cut its position in Tesla Motors Inc. (NASDAQ:TSLA) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 7,762 shares of the electric vehicle producer’s stock after selling 455 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Tesla Motors were worth $1,648,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in Tesla Motors by 8.7% in the second quarter. American Century Companies Inc. now owns 683,673 shares of the electric vehicle producer’s stock worth $145,130,000 after buying an additional 54,661 shares in the last quarter. Legal & General Group Plc increased its stake in 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 worth $80,517,000 after buying an additional 13,687 shares in the last quarter. Bloom Tree Partners LLC purchased a new stake in Tesla Motors during the first quarter worth approximately $59,515,000. Teachers Advisors Inc. increased its stake in Tesla Motors by 4.9% in the first quarter. Teachers Advisors Inc. now owns 208,865 shares of the electric vehicle producer’s stock worth $47,991,000 after buying an additional 9,669 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its stake in Tesla Motors by 1.5% in the first quarter. BlackRock Japan Co. Ltd now owns 121,847 shares of the electric vehicle producer’s stock worth $27,997,000 after buying an additional 1,796 shares in the last quarter. 66.62% of the stock is currently owned by institutional investors.
Tesla Motors Inc. (NASDAQ:TSLA) traded down 1.18% on Wednesday, hitting $208.91. The stock had a trading volume of 1,586,621 shares. The company has a 50 day moving average of $209.08 and a 200 day moving average of $222.26. The company’s market capitalization is $31.06 billion. Tesla Motors Inc. has a 12-month low of $141.05 and a 12-month high of $269.34.
Tesla Motors (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The business earned $1.56 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. On average, equities analysts expect that Tesla Motors Inc. will post ($0.93) earnings per share for the current year.
A number of brokerages have recently issued reports on TSLA. Robert W. Baird reaffirmed an “outperform” rating and set a $338.00 target price on shares of Tesla Motors in a research report on Tuesday, July 5th. Pacific Crest reaffirmed a “hold” rating on shares of Tesla Motors in a research report on Wednesday, September 28th. Piper Jaffray Cos. began coverage on Tesla Motors in a research report on Thursday, June 9th. They set a “neutral” rating and a $223.00 target price on the stock. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $240.00 target price on shares of Tesla Motors in a research report on Monday, July 25th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $290.00 target price on shares of Tesla Motors in a research report on Wednesday, July 6th. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Tesla Motors has an average rating of “Hold” and an average price target of $248.49.
Tesla Motors Company Profile
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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