Harvest Fund Management Co. Ltd increased its holdings in Tesla Inc. (NASDAQ:TSLA) by 1,303.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 70,149 shares of the electric vehicle producer’s stock after buying an additional 65,149 shares during the period. Tesla comprises approximately 3.7% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 9th biggest position. Harvest Fund Management Co. Ltd’s holdings in Tesla were worth $25,367,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of Tesla by 35.5% in the 2nd quarter. ProShare Advisors LLC now owns 47,450 shares of the electric vehicle producer’s stock valued at $17,158,000 after buying an additional 12,438 shares during the period. Profund Advisors LLC boosted its holdings in shares of Tesla by 16.5% in the 2nd quarter. Profund Advisors LLC now owns 10,803 shares of the electric vehicle producer’s stock valued at $3,906,000 after buying an additional 1,532 shares during the period. Amalgamated Bank boosted its holdings in shares of Tesla by 79.2% in the 2nd quarter. Amalgamated Bank now owns 13,267 shares of the electric vehicle producer’s stock valued at $4,797,000 after buying an additional 5,863 shares during the period. Captrust Financial Advisors acquired a new position in shares of Tesla in the 2nd quarter valued at about $452,000. Finally, Teachers Advisors LLC boosted its holdings in shares of Tesla by 14.4% in the 2nd quarter. Teachers Advisors LLC now owns 308,898 shares of the electric vehicle producer’s stock valued at $111,701,000 after buying an additional 38,774 shares during the period. 56.67% of the stock is owned by institutional investors and hedge funds.
In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the sale, the director now directly owns 160,274 shares in the company, valued at $51,505,652.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen T. Jurvetson sold 44,777 shares of Tesla stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total transaction of $15,240,299.72. Following the completion of the sale, the director now owns 36,111 shares in the company, valued at $12,290,739.96. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock worth $18,481,047 over the last quarter. 23.10% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on the stock. ValuEngine raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Citigroup Inc. assumed coverage on shares of Tesla in a research note on Thursday, July 20th. They set a “neutral” rating and a $357.00 target price for the company. Berenberg Bank reissued a “buy” rating on shares of Tesla in a research note on Thursday, August 3rd. Finally, Vetr raised shares of Tesla from a “hold” rating to a “buy” rating and set a $372.51 target price for the company in a research note on Thursday, August 10th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $315.31.
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Tesla Inc. (TSLA) traded up 0.57% during mid-day trading on Friday, reaching $379.81. 5,420,496 shares of the company’s stock traded hands. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $386.99. The stock’s market cap is $63.39 billion. The firm has a 50-day moving average price of $352.07 and a 200-day moving average price of $323.07.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 16.36%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned ($1.06) earnings per share. The firm’s revenue was up 119.6% compared to the same quarter last year. Equities research analysts anticipate that Tesla Inc. will post ($6.26) EPS for the current fiscal year.
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.
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