Bank of Montreal Can lifted its stake in shares of Tesla Inc (NASDAQ:TSLA) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,286,244 shares of the electric vehicle producer’s stock after acquiring an additional 2,502 shares during the quarter. Tesla comprises about 0.7% of Bank of Montreal Can’s investment portfolio, making the stock its 24th biggest holding. Bank of Montreal Can owned 1.93% of Tesla worth $870,099,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kiley Juergens Wealth Management LLC increased its stake in shares of Tesla by 81.9% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,861 shares of the electric vehicle producer’s stock valued at $492,000 after acquiring an additional 838 shares during the period. Sanders Morris Harris LLC bought a new stake in Tesla during the third quarter worth approximately $468,000. Lourd Capital LLC bought a new stake in Tesla during the third quarter worth approximately $309,000. Daiwa SB Investments Ltd. boosted its holdings in Tesla by 68.5% during the third quarter. Daiwa SB Investments Ltd. now owns 17,957 shares of the electric vehicle producer’s stock worth $4,754,000 after buying an additional 7,300 shares in the last quarter. Finally, ACG Wealth boosted its holdings in Tesla by 31.2% during the third quarter. ACG Wealth now owns 1,878 shares of the electric vehicle producer’s stock worth $497,000 after buying an additional 447 shares in the last quarter. Institutional investors and hedge funds own 62.03% of the company’s stock.
In other Tesla news, Director Kimbal Musk sold 1,875 shares of the stock in a transaction that occurred 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 sale, the director now owns 150,208 shares in the company, valued at approximately $45,963,648. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jerome M. Guillen sold 1,000 shares of the 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 completion of the sale, the insider now 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 owned by corporate insiders.
Tesla stock traded up $6.29 during midday trading on Friday, reaching $258.52. The stock had a trading volume of 315,990 shares, compared to its average volume of 8,688,600. Tesla Inc has a twelve month low of $244.59 and a twelve month high of $387.46. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73. The firm has a market capitalization of $45.17 billion, a price-to-earnings ratio of -21.97 and a beta of 0.84.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS 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 firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the business posted ($1.33) EPS. The company’s revenue was up 43.5% on a year-over-year basis. Equities analysts forecast that Tesla Inc will post -10.77 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on TSLA. TheStreet cut shares of Tesla from a “c-” rating to a “d+” rating in a report on Monday. Macquarie began coverage on shares of Tesla in a report on Monday. They set an “outperform” rating and a $430.00 target price for the company. Evercore ISI set a $299.00 target price on shares of Tesla and gave the stock a “hold” rating in a report on Thursday, October 4th. Royal Bank of Canada restated a “neutral” rating and set a $315.00 target price on shares of Tesla in a report on Thursday, October 4th. Finally, Bank of America set a $200.00 target price on shares of Tesla and gave the stock a “sell” rating in a report on Thursday, October 4th. Fifteen equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $306.59.
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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