MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 15.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 16,503 shares of the electric vehicle producer’s stock after acquiring an additional 2,244 shares during the quarter. Tesla accounts for 1.3% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 29th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Tesla were worth $18,005,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Paragon Capital Management Ltd bought a new position in shares of Tesla during the 4th quarter worth about $25,000. AllSquare Wealth Management LLC boosted its position in shares of Tesla by 766.7% during the 4th quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Tesla during the 4th quarter valued at about $31,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Tesla during the 4th quarter valued at about $32,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in shares of Tesla during the 4th quarter valued at about $32,000. Institutional investors own 40.64% of the company’s stock.
In other Tesla news, CAO Vaibhav Taneja sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $1,141.94, for a total value of $1,484,522.00. Following the transaction, the chief accounting officer now directly owns 25,985 shares of the company’s stock, valued at approximately $29,673,310.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 433 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $718.31, for a total transaction of $311,028.23. Following the completion of the transaction, the senior vice president now directly owns 20,567 shares in the company, valued at $14,773,481.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 416,669 shares of company stock worth $369,312,309. Insiders own 25.00% of the company’s stock.
Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share for the quarter, beating the consensus estimate of $1.64 by $1.22. The company had revenue of $18.76 billion for the quarter, compared to analyst estimates of $17.84 billion. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The company’s revenue was up 80.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 10.25 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on TSLA. Tudor, Pickering, Holt & Co. upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Wedbush decreased their target price on shares of Tesla from $1,400.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. UBS Group upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $1,100.00 price target on the stock in a research report on Thursday, June 9th. Tudor Pickering upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Tesla from $335.00 to $395.00 and gave the company an “underweight” rating in a research report on Thursday, April 21st. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $894.73.
About Tesla (Get Rating)
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits.
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