Gulf International Bank UK Ltd boosted its stake in Tesla Inc (NASDAQ:TSLA) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,241 shares of the electric vehicle producer’s stock after purchasing an additional 1,070 shares during the period. Gulf International Bank UK Ltd’s holdings in Tesla were worth $8,463,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Alpha Windward LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $26,000. Sontag Advisory LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $26,000. Gradient Investments LLC grew its position in shares of Tesla by 1,660.0% in the 4th quarter. Gradient Investments LLC now owns 88 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 83 shares during the last quarter. Intercontinental Wealth Advisors LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $30,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Tesla in the 4th quarter worth approximately $32,000. 59.50% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $267.50, for a total value of $4,012,500.00. Following the completion of the transaction, the insider now owns 306,748 shares in the company, valued at $82,055,090. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antonio J. Gracias sold 16,780 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $275.92, for a total value of $4,629,937.60. Following the completion of the transaction, the director now owns 8,728 shares of the company’s stock, valued at approximately $2,408,229.76. The disclosure for this sale can be found here. Insiders sold 98,040 shares of company stock worth $28,575,874 over the last three months. Corporate insiders own 22.80% of the company’s stock.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 30th. The electric vehicle producer reported $1.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.93. Tesla had a negative return on equity of 18.50% and a negative net margin of 4.55%. The business had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the previous year, the company posted ($3.04) earnings per share. The company’s revenue for the quarter was up 119.8% compared to the same quarter last year. On average, equities research analysts predict that Tesla Inc will post 1.26 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 31st. Royal Bank of Canada reiterated a “sell” rating and issued a $245.00 price objective on shares of Tesla in a research report on Wednesday, February 6th. KeyCorp reiterated a “hold” rating on shares of Tesla in a research report on Thursday, December 20th. DZ Bank reiterated a “sell” rating on shares of Tesla in a research report on Monday, February 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $283.00 price objective (down from $291.00) on shares of Tesla in a research report on Tuesday, February 5th. Fifteen research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Tesla presently has an average rating of “Hold” and a consensus price target of $315.41.
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Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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