Daiwa Securities Group Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 24.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,315,960 shares of the electric vehicle producer’s stock after purchasing an additional 256,594 shares during the quarter. Tesla makes up 1.4% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 23rd biggest holding. Daiwa Securities Group Inc.’s holdings in Tesla were worth $260,402,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Integris Wealth Management LLC grew its position in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Echo Wealth Management LLC grew its position in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its stake in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the period. Bellevue Asset Management LLC raised its holdings in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares during the last quarter. Finally, Cypress Capital Group boosted its stake in shares of Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Insider Activity at Tesla
In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on TSLA
Tesla Trading Up 2.6 %
Shares of Tesla stock opened at $216.27 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a 50 day moving average price of $224.59 and a 200 day moving average price of $193.72. The company has a market capitalization of $690.90 billion, a P/E ratio of 55.17, a P/E/G ratio of 5.57 and a beta of 2.29.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results 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 return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the firm earned $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.
About Tesla
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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