Lord Abbett & CO. LLC Acquires Shares of 115,932 Tesla Inc (TSLA)

Share on StockTwits

Lord Abbett & CO. LLC acquired a new stake in Tesla Inc (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 115,932 shares of the electric vehicle producer’s stock, valued at approximately $38,582,000. Lord Abbett & CO. LLC owned about 0.07% of Tesla as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Kings Point Capital Management grew its stake in shares of Tesla by 150.9% during the fourth quarter. Kings Point Capital Management now owns 138 shares of the electric vehicle producer’s stock worth $46,000 after purchasing an additional 83 shares during the period. Domini Impact Investments LLC bought a new stake in Tesla during the fourth quarter worth about $230,000. American International Group Inc. raised its holdings in Tesla by 5.8% during the fourth quarter. American International Group Inc. now owns 10,352 shares of the electric vehicle producer’s stock worth $3,445,000 after acquiring an additional 571 shares in the last quarter. Captrust Financial Advisors raised its holdings in Tesla by 1.5% during the fourth quarter. Captrust Financial Advisors now owns 3,240 shares of the electric vehicle producer’s stock worth $1,078,000 after acquiring an additional 47 shares in the last quarter. Finally, Kinneret Advisory LLC bought a new stake in Tesla during the fourth quarter worth about $3,113,000. Institutional investors own 59.03% of the company’s stock.

In other Tesla news, insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $316.95, for a total transaction of $4,754,250.00. Following the sale, the insider now directly owns 321,398 shares in the company, valued at approximately $101,867,096.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antonio J. Gracias sold 16,780 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $285.46, for a total transaction of $4,790,018.80. Following the sale, the director now owns 16,792 shares in the company, valued at $4,793,444.32. The disclosure for this sale can be found here. Insiders sold a total of 124,130 shares of company stock worth $39,063,084 over the last ninety days. Corporate insiders own 22.80% of the company’s stock.

Several research firms recently issued reports on TSLA. Canaccord Genuity set a $450.00 target price on Tesla and gave the stock a “buy” rating in a report on Tuesday, February 26th. Morgan Stanley restated an “equal weight” rating and issued a $283.00 price objective (down previously from $291.00) on shares of Tesla in a research note on Tuesday, February 5th. BidaskClub lowered Tesla from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Cowen set a $200.00 target price on Tesla and gave the company a “sell” rating in a research report on Friday, January 18th. Finally, Royal Bank of Canada reduced their price target on Tesla from $340.00 to $290.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 2nd. Fifteen investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company’s stock. Tesla has a consensus rating of “Hold” and an average target price of $327.95.

Shares of TSLA stock opened at $289.96 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.83 and a debt-to-equity ratio of 1.63. The stock has a market cap of $48.94 billion, a price-to-earnings ratio of -50.69, a P/E/G ratio of 4.95 and a beta of 0.37. Tesla Inc has a 1-year low of $244.59 and a 1-year high of $387.46.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.93. Tesla had a negative net margin of 4.55% and a negative return on equity of 18.50%. The firm had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter last year, the company earned ($3.04) earnings per share. The firm’s revenue was up 119.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla Inc will post 1.64 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/4223654/lord-abbett-co-llc-acquires-shares-of-115932-tesla-inc-tsla.html.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Recommended Story: What is Put Option Volume?

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

$1.93 Earnings Per Share Expected for United Parcel Service, Inc.  This Quarter
$1.93 Earnings Per Share Expected for United Parcel Service, Inc. This Quarter
RDI Reit  Reaches New 12-Month Low at $116.80
RDI Reit Reaches New 12-Month Low at $116.80
Contourglobal PLC  Insider Purchases £20,573.40 in Stock
Contourglobal PLC Insider Purchases £20,573.40 in Stock
Crowdholding Tops 24 Hour Trading Volume of $240.00
Crowdholding Tops 24 Hour Trading Volume of $240.00
Head-To-Head Survey: Freestone Resources  and Weatherford International
Head-To-Head Survey: Freestone Resources and Weatherford International
Raymond James Analysts Give Blackline Safety  a C$7.50 Price Target
Raymond James Analysts Give Blackline Safety a C$7.50 Price Target


© 2006-2019 Ticker Report