Kornitzer Capital Management Inc. KS lowered its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 46.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,053 shares of the electric vehicle producer’s stock after selling 2,637 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Tesla were worth $604,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apexium Financial LP lifted its holdings in Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares in the last quarter. Forum Financial Management LP lifted its holdings in Tesla by 19.7% in the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares in the last quarter. Atalanta Sosnoff Capital LLC lifted its holdings in Tesla by 3.7% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Tesla in the 1st quarter valued at $1,941,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Insider Buying and Selling at Tesla
In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.10% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Tesla
Tesla Price Performance
TSLA stock opened at $210.73 on Friday. The business has a 50 day moving average price of $224.47 and a 200 day moving average price of $193.60. The stock has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.
Tesla Company Profile
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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.
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