Gemmer Asset Management LLC Buys 55 Shares of Tesla Inc (NASDAQ:TSLA)

Gemmer Asset Management LLC increased its stake in shares of Tesla Inc (NASDAQ:TSLA) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433 shares of the electric vehicle producer’s stock after purchasing an additional 55 shares during the quarter. Gemmer Asset Management LLC’s holdings in Tesla were worth $104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Baillie Gifford & Co. boosted its stake in Tesla by 1.2% in the second quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock valued at $2,996,539,000 after acquiring an additional 165,206 shares during the last quarter. Primecap Management Co. CA boosted its stake in Tesla by 67.2% in the second quarter. Primecap Management Co. CA now owns 1,526,940 shares of the electric vehicle producer’s stock valued at $341,210,000 after acquiring an additional 613,525 shares during the last quarter. ARK Investment Management LLC boosted its stake in Tesla by 54.3% in the second 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 boosted its stake in Tesla by 0.5% in the second quarter. Northern Trust Corp now owns 928,974 shares of the electric vehicle producer’s stock valued at $207,588,000 after acquiring an additional 4,913 shares during the last quarter. Finally, SG Americas Securities LLC boosted 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 valued at $164,682,000 after acquiring an additional 699,981 shares during the last quarter. 54.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:TSLA opened at $247.89 on Friday. Tesla Inc has a 12 month low of $176.99 and a 12 month high of $379.49. 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 fifty day simple moving average is $233.20 and its 200 day simple moving average is $235.28. The firm has a market cap of $44.40 billion, a price-to-earnings ratio of -43.34 and a beta of 0.52.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the business earned ($3.06) earnings per share. The company’s revenue was up 58.7% on a year-over-year basis. Research analysts expect that Tesla Inc will post -7.51 earnings per share for the current fiscal year.

In other Tesla news, Director Kathleen Wilson-Thompson purchased 360 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of $221.71 per share, for a total transaction of $79,815.60. Following the purchase, the director now owns 360 shares of the company’s stock, valued at $79,815.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total transaction of $38,352.00. Following the completion of the sale, the chief financial officer now owns 9,962 shares in the company, valued at $2,547,084.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,450 shares of company stock worth $3,565,073. 24.40% of the stock is currently owned by company insiders.

A number of brokerages have issued reports on TSLA. Piper Jaffray Companies set a $386.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group set a $160.00 price target on shares of Tesla and gave the stock a “sell” rating in a research report on Thursday, July 25th. ValuEngine raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Cowen set a $140.00 price target on shares of Tesla and gave the stock a “sell” rating in a research report on Monday, September 30th. Finally, Oppenheimer reduced their price target on shares of Tesla from $437.00 to $356.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Eighteen investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $266.76.

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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