Jacobs & Co. CA Purchases 7,228 Shares of Tesla Inc (NASDAQ:TSLA)

Jacobs & Co. CA grew its position in Tesla Inc (NASDAQ:TSLA) by 113.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,620 shares of the electric vehicle producer’s stock after purchasing an additional 7,228 shares during the quarter. Jacobs & Co. CA’s holdings in Tesla were worth $3,043,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. ARK Investment Management LLC boosted its position in shares of Tesla by 54.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,163,182 shares of the electric vehicle producer’s stock valued at $259,925,000 after acquiring an additional 409,332 shares during the last quarter. Northern Trust Corp increased its stake in Tesla by 1.0% in the first quarter. Northern Trust Corp now owns 924,061 shares of the electric vehicle producer’s stock worth $258,608,000 after purchasing an additional 9,430 shares during the period. SG Americas Securities LLC increased its stake in Tesla by 1,892.8% in the second quarter. SG Americas Securities LLC now owns 736,962 shares of the electric vehicle producer’s stock worth $164,682,000 after purchasing an additional 699,981 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Tesla by 6.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 715,153 shares of the electric vehicle producer’s stock worth $159,808,000 after purchasing an additional 42,346 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its stake in shares of Tesla by 249.7% during the second quarter. Nikko Asset Management Americas Inc. now owns 656,695 shares of the electric vehicle producer’s stock valued at $146,745,000 after buying an additional 468,884 shares during the period. 54.88% of the stock is currently owned by institutional investors.

TSLA stock traded down $6.60 during trading on Wednesday, reaching $228.40. 75,269 shares of the company traded hands, compared to its average volume of 9,652,586. Tesla Inc has a 12 month low of $176.99 and a 12 month high of $379.49. The company has a market capitalization of $42.10 billion, a P/E ratio of -40.01 and a beta of 0.60. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71. The company’s 50 day moving average price is $237.10.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($0.76). Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the business earned ($3.06) earnings per share. The company’s revenue for the quarter was up 58.7% compared to the same quarter last year. Equities research analysts expect that Tesla Inc will post -7.51 earnings per share for the current fiscal year.

TSLA has been the topic of several research reports. CIBC cut their price target on Tesla from $437.00 to $356.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Citigroup cut their price target on Tesla from $238.00 to $191.00 and set a “sell” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI cut their price target on Tesla from $240.00 to $200.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 15th. They noted that the move was a valuation call. UBS Group set a $160.00 price target on Tesla and gave the company a “sell” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC restated a “sell” rating on shares of Tesla in a research note on Sunday, July 7th. Eighteen investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $269.53.

In related news, Director Brad W. Buss sold 38,540 shares of Tesla stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $228.37, for a total transaction of $8,801,379.80. Following the completion of the transaction, the director now directly owns 34,874 shares in the company, valued at $7,964,175.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total value of $38,352.00. Following the transaction, the chief financial officer now owns 9,962 shares of the company’s stock, valued at $2,547,084.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,456 shares of company stock valued at $24,587,180. 24.40% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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