Royal London Asset Management Ltd. Invests $19.28 Million in Tesla Inc (NASDAQ:TSLA) Stock

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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 the company. Summit Trail Advisors LLC raised its position in 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 buying an additional 166 shares during the last quarter. 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.

TSLA has been the topic of a number of recent analyst reports. 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 reissued a “sell” rating and issued a $195.00 price objective 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.

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

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.55. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the company earned ($1.33) earnings per share. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. On average, research analysts predict that Tesla Inc will post -10.77 EPS for the current year.

In other Tesla news, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction on Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $573,750.00. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of Tesla stock in a transaction 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 completion of the transaction, 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. 22.80% of the stock is currently owned by company insiders.

Tesla 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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