Bedell Frazier Investment Counseling LLC lessened its stake in shares of Tesla Inc. (NASDAQ:TSLA) by 41.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 13,627 shares of the electric vehicle producer’s stock after selling 9,634 shares during the period. Tesla accounts for about 2.1% of Bedell Frazier Investment Counseling LLC’s investment portfolio, making the stock its 25th biggest holding. Bedell Frazier Investment Counseling LLC’s holdings in Tesla were worth $4,648,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. grew its holdings in Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after purchasing an additional 50 shares during the period. Winfield Associates Inc. boosted its stake in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares during the period. Carroll Financial Associates Inc. boosted its stake in shares of Tesla by 8.7% in the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after acquiring an additional 28 shares during the period. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock worth $145,000 after acquiring an additional 9 shares during the period. 56.36% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Citigroup Inc. reaffirmed a “hold” rating and issued a $367.00 price objective on shares of Tesla in a research note on Wednesday. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the stock a “neutral” rating in a research note on Wednesday, September 20th. Berenberg Bank reaffirmed a “buy” rating on shares of Tesla in a research note on Thursday, August 3rd. Vetr raised Tesla from a “hold” rating to a “buy” rating and set a $372.51 price objective for the company in a research note on Thursday, August 10th. Finally, Jefferies Group LLC assumed coverage on Tesla in a research note on Tuesday, September 19th. They issued an “underperform” rating and a $280.00 price objective for the company. They noted that the move was a valuation call. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $330.28.
Shares of Tesla Inc. (NASDAQ TSLA) traded up $2.64 during midday trading on Wednesday, reaching $311.34. The company’s stock had a trading volume of 4,113,949 shares, compared to its average volume of 6,401,490. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66. Tesla Inc. has a 1-year low of $180.00 and a 1-year high of $389.61.
Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. equities research analysts expect that Tesla Inc. will post -11.38 EPS for the current year.
In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total transaction of $777,888.00. Following the completion of the sale, the director now owns 158,584 shares in the company, valued at approximately $56,329,036.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen T. Jurvetson sold 44,777 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $340.36, for a total value of $15,240,299.72. Following the sale, the director now owns 36,111 shares of the company’s stock, valued at approximately $12,290,739.96. The disclosure for this sale can be found here. Insiders have sold a total of 55,518 shares of company stock worth $18,819,611 in the last ninety days. Insiders own 23.10% of the company’s stock.
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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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