Twin Tree Management LP Increases Stake in Tesla Inc. (TSLA)

Twin Tree Management LP boosted its stake in Tesla Inc. (NASDAQ:TSLA) by 126.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,319 shares of the electric vehicle producer’s stock after buying an additional 4,648 shares during the period. Twin Tree Management LP’s holdings in Tesla were worth $2,315,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ruggie Capital Group purchased a new stake in Tesla during the third quarter valued at $193,000. Gerstein Fisher purchased a new stake in Tesla during the third quarter valued at $330,000. Lombard Odier Asset Management Europe Ltd bought a new position in Tesla during the third quarter worth approximately $254,000. Cable Hill Partners LLC boosted its position in Tesla by 36.1% in the third quarter. Cable Hill Partners LLC now owns 693 shares of the electric vehicle producer’s stock worth $139,000 after buying an additional 184 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in Tesla during the third quarter worth approximately $4,915,000. 63.77% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Shares of Tesla Inc. (NASDAQ:TSLA) opened at 376.40 on Thursday. The stock has a 50 day moving average price of $334.64 and a 200-day moving average price of $275.06. Tesla Inc. has a 1-year low of $178.19 and a 1-year high of $384.25. The stock’s market capitalization is $61.83 billion.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. On average, analysts forecast that Tesla Inc. will post ($5.80) earnings per share for the current year.

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TSLA has been the subject of a number of research reports. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “buy” rating and set a $345.00 target price for the company in a report on Tuesday, April 25th. Vetr cut shares of Tesla from a “sell” rating to a “strong sell” rating and set a $277.96 target price for the company. in a report on Tuesday, May 9th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $240.00 price objective on shares of Tesla in a research note on Thursday, May 4th. Robert W. Baird set a $368.00 price objective on Tesla and gave the company a “buy” rating in a research note on Thursday, March 2nd. Finally, FBN Securities upped their price objective on Tesla from $275.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, April 3rd. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. Tesla currently has an average rating of “Hold” and a consensus target price of $288.17.

In related news, Director Kimbal Musk sold 2,500 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $286.28, for a total transaction of $715,700.00. Following the transaction, the director now directly owns 170,546 shares in the company, valued at approximately $48,823,908.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 20,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $311.76, for a total value of $6,235,200.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $6,235,200. The disclosure for this sale can be found here. Insiders sold a total of 242,791 shares of company stock worth $74,745,344 over the last quarter. Company insiders own 23.10% of the company’s stock.

About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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