When I think of autonomous driving, I envision a time in the not too distant future, when instead of calling a cab, one can simply call an autonomous vehicle like one manufacturered by Tesla Motors Inc (NASDAQ:TSLA), and it will do all the driving for you, for a fraction of the price. When this becomes reality, a large portion of the population will move away from purchasing their own cars, and instead rely on services like this. Tesla Motors’ (NASDAQ:TSLA) founder Elon Musk, believes that within 2 years such technology wil be a reality.
“Within two years you’ll be able to summon your car from across the country, ” Musk said on Sunday, “ I might be slightly optimistic on that.”
Whether or not government regulations will allow for this is an entirely different story. Entire businesses will be destroyed, but in the wake of this new technology, tens of thousands of vehicle deaths will be avoided each year and new jobs will come in to replace the outdated jobs of cabbies and bus drivers.
On Sunday Tesla Motors Inc (NASDAQ:TSLA) and Musk also unveiled the latest over-the-air software update 7.1 for Model S and Model X, which allows the vehicles to self-park. The stock decreased 2.16% or $4.65 during the last trading session, hitting $211. Approximately 861 shares traded hands. TSLA shares have declined 15.31% since June 5, 2015 and are currently downtrending. It has underperformed the S&P500 by 10.62%.
From a total of 16 analysts covering Tesla Motors Inc (NASDAQ:TSLA) stock, 8 rate it a “Buy”, 3 a “Sell”, and 5 a “Hold”. This means that 50% of the ratings are positive. The highest target price is $465 while the lowest target price is $180. The mean of all analyst targets is $289.65 which is 37.27% above today’s ($211) stock price. Tesla Motors Inc was the topic of 30 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. JMP Securities initiated shares on December 14 with a “Market Perform” rating. Barclays Capital downgraded shares to a”Underweight” rating and a $180 target share price in their report from an October 9. Evercore maintained TSLA stock in a recent report from November 4 with a “Buy” rating. Robert W. Baird downgraded the rating on October 7. Robert W. Baird has a “Neutral” rating and a $282 price target on shares. Finally, S&P Research upgraded the stock to a “Hold” rating in a report they issued on an October 13.
The institutional sentiment increased to 1.29 in Q2 2015. It’s up 0.01, from 1.28 in 2015Q2. The ratio improved, as 84 funds sold all their Tesla Motors Inc shares they owned while 122 reduced their positions. 66 funds bought stakes while 199 increased their total positions. Institutions now own 76.22 million shares which is 1.63% less than the previous share count of 77.48 million in 2015Q2.
J&P(China)Capital Management Co.Ltd holds 50.38% of its total portfolio in Tesla Motors Inc, equating to 975,058 shares. Andor Capital Management L.L.C. owns 1.00 million shares representing 39.05% of their total US portfolio. Moreover, Zevenbergen Capital Investments Llc has 6.58% of their total portfolio invested in the company, equating to 618,255 shares. The New York-based Long Oar Global Investors Llc has a total of 5.74% of their portfolio invested in the stock. Hhr Asset Management Llc, a New Jersey-based fund reported 488,021 shares owned.
Since April 16, 2015, the stock had 0 insider purchases, and 6 insider sales for a total of $15.35 million in net activity. Straubel Jeffrey B sold 10,000 shares worth $2.18 million. Ehrenpreis Ira Matthew sold 16,698 shares worth $4.26M. Ahuja Deepak sold 5,000 shares worth $1.29M. Guillen Jerome M sold 1,500 shares worth $373,291. The insider Reichow Gregory sold 10,000 shares worth $2.40M.
Tesla Motors, Inc. is a United States company, which designs, develops, makes and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The company has a market cap of $27.63 billion. The Firm sells and produces a vehicle under the name Model S, which is a fully electric, four-door, five-adult passenger sedan. It currently has negative earnings. In addition to developing its own vehicles, it develops, sells, and services full electric powertrain systems and components to other automobile manufacturers.