Royal London Asset Management Ltd. bought a new stake in Tesla Inc (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,232 shares of the electric vehicle producer’s stock, valued at approximately $19,278,000.

Several other institutional investors also recently modified their holdings of TSLA. Summit Trail Advisors LLC grew its stake in shares of Tesla by 7.3% during the 2nd quarter. Summit Trail Advisors LLC now owns 2,448 shares of the electric vehicle producer’s stock worth $840,000 after purchasing an additional 166 shares during the period. Global Financial Private Capital LLC grew its stake in shares of Tesla by 4.5% during the 1st quarter. Global Financial Private Capital LLC now owns 3,952 shares of the electric vehicle producer’s stock worth $1,052,000 after purchasing an additional 171 shares during the period. Financial Advocates Investment Management grew its stake in shares of Tesla by 4.8% during the 1st quarter. Financial Advocates Investment Management now owns 3,864 shares of the electric vehicle producer’s stock worth $1,028,000 after purchasing an additional 176 shares during the period. FCG Advisors LLC grew its stake in shares of Tesla by 26.6% during the 1st quarter. FCG Advisors LLC now owns 881 shares of the electric vehicle producer’s stock worth $234,000 after purchasing an additional 185 shares during the period. Finally, Boston Private Wealth LLC grew its stake in shares of Tesla by 19.8% during the 1st quarter. Boston Private Wealth LLC now owns 1,167 shares of the electric vehicle producer’s stock worth $311,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 62.03% of the company’s stock.

In other news, Director Kimbal Musk sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $573,750.00. Following the completion of the sale, the director now owns 150,208 shares of the company’s stock, valued at $45,963,648. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the sale, the insider now directly owns 8,598 shares of the company’s stock, valued at approximately $2,630,988. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Shares of TSLA traded up $6.55 during mid-day trading on Friday, reaching $258.78. 7,188,724 shares of the stock traded hands, compared to its average volume of 8,681,042. The firm has a market capitalization of $45.17 billion, a P/E ratio of -22.54 and a beta of 0.84. Tesla Inc has a 12-month low of $244.59 and a 12-month high of $387.46. The company has a quick ratio of 0.37, a current ratio of 0.73 and a debt-to-equity ratio of 2.01.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.55. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The business’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.33) earnings per share. Equities analysts expect that Tesla Inc will post -10.77 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on TSLA shares. BidaskClub raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. Berenberg Bank set a $500.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Monday, June 18th. Oppenheimer reissued a “neutral” rating on shares of Tesla in a research note on Thursday, June 21st. Sanford C. Bernstein reissued a “neutral” rating and issued a $265.00 price objective on shares of Tesla in a research note on Friday, June 22nd. Finally, Goldman Sachs Group reaffirmed a “sell” rating and set a $195.00 price target on shares of Tesla in a research note on Tuesday, June 26th. Fifteen analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $306.59.

Tesla Company 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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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