FineMark National Bank & Trust Sells 375 Shares of Tesla Inc. (TSLA)

Gladys Abbott
August 12, 2017

Guggenheim restated a buy rating and set a $320.00 target price on shares of Tesla in a research note on Wednesday, April 19th. RBC Capital Markets maintained it with "Buy" rating and $9700 target in Friday, June 30 report. (The) reissued a "sell" rating and set a $180.00 target price (down from $190.00) on shares of Tesla in a research note on Monday, July 31st. Bank of America Corporation cut their price objective on Tesla from $170.00 to $165.00 and set an "underperform" rating for the company in a report on Wednesday, April 26th.

Moody's assigned a B2 rating with a stable outlook. Vetr now has $367.97 target price on the electric vehicle producer's stock. The stock of Tesla Inc (NASDAQ:TSLA) has "Buy" rating given on Thursday, August 3 by Piper Jaffray. Tesla has a 52-week low of $178.19 and a 52-week high of $386.99.

The debt offering marks Tesla's debut in the junk-bond market and the company will start road-shows on Monday, IFR reported, citing lead bankers on the deal. The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.50 billion. Tesla had a negative net margin of 14.39% and a negative return on equity of 26.74%. The business's revenue was up 119.6% compared to the same quarter a year ago. On average, equities research analysts expect that Tesla will post ($6.29) EPS for the current fiscal year. Musk said investors should have "zero concern" about whether Tesla will be able to meet its goal of making 10,000 Model 3s per week by next year. If you are reading this piece of content on another publication, it was stolen and republished in violation of USA and global trademark and copyright laws. The correct version of this report can be viewed at https://transcriptdaily.com/2017/08/10/bourne-lent-asset-management-inc-acquires-shares-of-690-tesla-inc-tsla-updated-updated.html.

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In other news, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the sale, the director now owns 166,164 shares in the company, valued at $61,095,179.52. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). Wired, for example, wrote, "This auto feels like an automotive tipping point, a sign that electric vehicles - and hopefully, the infrastructure that supports them - have finally come into their own".

Want to see what other hedge funds are holding TSLA? UBS Asset Management Americas Inc. raised its stake in shares of Tesla by 9.4% in the fourth quarter. Lincoln National Corp purchased a new stake in shares of Tesla during the first quarter valued at about $226,000. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer's stock worth $108,000 after buying an additional 50 shares during the period. Now, Tesla is quietly equipping new Model 3, S and X production units with upgraded Autopilot hardware (HW 2.5).

Spot Trading Llc increased its stake in Tesla Mtrs Inc (Put) (TSLA) by 2630% based on its latest 2016Q4 regulatory filing with the SEC. Baillie Gifford & Co. now owns 13,625,678 shares of the electric vehicle producer's stock worth $3,792,025,000 after buying an additional 336,130 shares during the period. Spark Investment Management Llc, a New York-based fund reported 401,300 shares.

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