Tesla Inc. (NASDAQ:TSLA) Position Cut by Jennison Associates LLC

19 Novembre, 2017, 22:21 | Auteur: Nathanaël Gerin
  • Tesla CEO Elon Musk unveiling semi-truck in California

The truck is equipped with autopilot system that allows you to stay in lane, change lanes to leave the motorway without a driver. "By comparison, supercar exotics like the Bugatti Veyron, Porsche 918 Spyder and McLaren 720s tip the 1/4 mile scales at just shy of 10 seconds".

The launch of the Tesla Semi in serial production is planned in 2019. The fund owned 104,318 shares of the electric vehicle producer's stock after buying an additional 60,499 shares during the quarter. The stock currently has an average rating of "Hold" and an average target price of $330.28.

Tesla Inc. first-ever pure corporate bonds are trading under water, boding ill for the Silicon Valley car maker's next attempt to tap capital markets. Cowen & Co maintained Tesla Inc (NASDAQ:TSLA) rating on Friday, October 20. Charging occurs at Tesla's "Megachargers [which] run on solar power and Tesla has guaranteed electricity rates of $0.07 per kWh with Semi owners". The stock has a consensus rating of "Hold" and a consensus target price of $330.28. Moreover, Gsa Capital Partners Llp has 0.03% invested in the company for 89,740 shares. $1.61M worth of Tesla Inc (NASDAQ:TSLA) shares were sold by Musk Kimbal. Tesla's original Roadster, produced from 2008 to 2012, was built on the skeleton of a British Lotus sports car.

The deal was the first pure bond deal by Tesla, which has in past issued convertible bonds, which can be converted into equity and benefit from stock gains.

Reuters provides some context: "Tesla Chief Executive Elon Musk has insisted on performing much of the work within the company, one of the reasons Tesla has been continually pushing back production targets for the Model 3 sedan". The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

In other Tesla news, VP Eric Branderiz sold 99 shares of the stock in a transaction on Tuesday, September 5th.

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"The big question, obviously with Musk always is, nobody doubts his visionary abilities or his design capabilities, but can he execute?" Meanwhile, the company posted a record loss of US$619 million in its most recent quarter. Finally, KeyCorp reiterated a "hold" rating on shares of Tesla in a research report on Friday, November 10th.

Tesla shares have gained 42% this year, in contrast with a 15% rise for the S&P 500 index. Robert W. Baird reissued an "outperform" rating and set a $368.00 price objective on shares of Tesla in a research report on Wednesday, July 26th.

Among 32 analysts covering Tesla Motors Inc (NASDAQ:TSLA), 11 have Buy rating, 9 Sell and 12 Hold.