Equitable Trust Co. Takes Position in Tesla Inc (TSLA)

Equitable Trust Co. bought a new stake in Tesla Inc (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 658 shares of the electric vehicle producer’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. raised its position in Tesla by 0.4% in the third quarter. Alliancebernstein L.P. now owns 85,587 shares of the electric vehicle producer’s stock valued at $22,661,000 after purchasing an additional 328 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Tesla by 39.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 6,647 shares of the electric vehicle producer’s stock valued at $1,760,000 after acquiring an additional 1,890 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Tesla by 833.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 159,026 shares of the electric vehicle producer’s stock valued at $42,503,000 after acquiring an additional 141,997 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Tesla by 1.0% during the 3rd quarter. Primecap Management Co. CA now owns 1,106,015 shares of the electric vehicle producer’s stock valued at $292,840,000 after acquiring an additional 10,900 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. purchased a new position in shares of Tesla during the 3rd quarter valued at $122,000. 59.50% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, December 31st. Royal Bank of Canada restated a “sell” rating and set a $245.00 price target on shares of Tesla in a report on Wednesday, February 6th. DZ Bank restated a “sell” rating on shares of Tesla in a report on Monday, February 4th. Morgan Stanley restated an “equal weight” rating and set a $283.00 price target (down from $291.00) on shares of Tesla in a report on Tuesday, February 5th. Finally, BidaskClub upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. Fifteen investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. Tesla has a consensus rating of “Hold” and an average target price of $315.41.

In related news, Director Antonio J. Gracias sold 16,780 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $275.92, for a total value of $4,629,937.60. Following the sale, the director now owns 8,728 shares of the company’s stock, valued at $2,408,229.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Johnson Rice sold 1,700 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $320.00, for a total transaction of $544,000.00. Following the completion of the sale, the director now directly owns 1,700 shares in the company, valued at approximately $544,000. The disclosure for this sale can be found here. Insiders have sold 98,040 shares of company stock valued at $28,575,874 in the last ninety days. 22.80% of the stock is owned by company insiders.

Shares of TSLA traded up $2.03 during trading hours on Friday, reaching $273.26. 5,876,325 shares of the company traded hands, compared to its average volume of 8,720,202. The firm has a market capitalization of $47.20 billion, a P/E ratio of -47.77 and a beta of 0.35. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.52 and a current ratio of 0.83. Tesla Inc has a 1-year low of $247.77 and a 1-year high of $387.46.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.93. The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.09 billion. Tesla had a negative net margin of 4.55% and a negative return on equity of 18.50%. The firm’s revenue for the quarter was up 119.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.04) earnings per share. As a group, equities analysts forecast that Tesla Inc will post -2.01 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was first reported by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/equitable-trust-co-buys-shares-of-658-tesla-inc-tsla-2.html.

About Tesla

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.

Recommended Story: How Do You Make Money With Penny Stocks?

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.