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Tesla's 2Q loss widens, but results beat forecasts

Tesla's 2Q loss widens, but results beat forecasts

Tesla now has an average rating of "Hold" and an average target price of $301.70. The company presently has an average rating of "Hold" and a consensus price target of $301.70. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer's stock valued at $122,000 after buying an additional 9 shares during the last quarter. The Oz Management Lp holds 1.34 million shares with $285.39M value, up from 114,500 last quarter. Revenue is expected to grow 63% year over year, but estimates are slightly below the $2.7 billion in revenue reported in the first quarter. With that beat, shares of Tesla were up around 4% after the earnings release came out. Baillie Gifford & Co. raised its stake in Tesla by 2.5% in the first quarter. Vanguard Group Inc. now owns 5,934,799 shares of the electric vehicle producer's stock worth $1,651,654,000 after buying an additional 280,941 shares during the period. Another trade for 95,420 shares valued at $25.00 million was made by Musk Elon on Friday, March 17.

"It's our view that nothing about Tesla's financials or fundamentals right now justifies a price tag of $320 per share", said Clement Thibault, analysts with Investing.com, in a note.

A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company. Goldman Sachs maintained the stock with "Hold" rating in Friday, August 7 report. Renaissance Technologies LLC now owns 677,792 shares of the electric vehicle producer's stock valued at $188,630,000 after buying an additional 366,400 shares during the last quarter. It also increased its holding in Credit Suisse Group (Call) (NYSE:CS) by 2.14M shares in the quarter, for a total of 4.76 million shares, and has risen its stake in Ishares Tr (Put) (HYG).

It hasn't been a great year for traders who bet against Tesla's stock, following a 52% surge in the stock price year-to-date. Barclays Capital maintained Tesla Inc (NASDAQ:TSLA) rating on Thursday, April 6. The stock was sold at an average price of $311.76, for a total transaction of $6,235,200.00. Capital expenditures should be about $2 billion during the second half of 2017, as we make milestone-based payments for Model 3 equipment, continue with Gigafactory 1 construction, and expand our Supercharger, store, delivery hub, and service networks.

Asus ZenFone 4 to be released on August 19
The Zenfone 4 Pro is said to feature a 5.7-inch Super AMOLED QHD display , Snapdragon 835 chipset, 6 gigs of RAM and 64GB storage. The screen sizes for these devices would be different from each other and of course the camera sensors as well.

Revenues are estimated to double to $2.55 billion. $150,726 worth of Tesla Inc (NASDAQ:TSLA) shares were sold by FIELD JOHN DOUGLAS. "(TSLA)" was posted by BNB Daily and is the property of of BNB Daily. Mark Sheptoff Finance Planning reported 0.24% of its portfolio in Tesla Inc (NASDAQ:TSLA). If you are accessing this piece on another website, it was illegally copied and reposted in violation of USA and global trademark and copyright laws. Shares for $33.58M were sold by Straubel Jeffrey B on Monday, May 8. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Primecap Management Co. CA now owns 1,215,640 shares of the electric vehicle producer's stock valued at $338,313,000 after buying an additional 47,550 shares in the last quarter.

Several other hedge funds have also recently modified their holdings of TSLA. It increased, as 74 investors sold Tesla Inc shares while 105 reduced holdings. The disclosure for this sale can be found here. Gemmer Asset Management LLC now owns 759 shares of the electric vehicle producer's stock worth $211,000 after buying an additional 58 shares in the last quarter.

While Tesla looks to broaden to a wider base of consumers, a signal like this could be a good one for the company going forward as its existing sweet spot has been luxury vehicle owners. In the last three months, insiders sold 239,790 shares of company stock valued at $74,130,330.


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