It seems as though Apple has taken it upon themselves to hire several valuable employees away from Tesla Motors Inc (NASDAQ:TSLA) in the past. Now, however, tides have turned a bit as Tesla has just hired a former Apple employee to take on a very important role within the company.
That’s right, the former developer behind the A4 and A5 processors which powered most of Apple’s mobile devices between 2010 and 2012, Jim Keller, has been hired to head-up Tesla Motors Inc (NASDAQ:TSLA)’s autopilot / self-driving engineering team. He becomes Vice President of Autopilot Hardware Engineering, and more than likely be working on developing computer chips that can be featured on future Tesla vehicles.
“Jim Keller is joining Tesla as Vice President of Autopilot Hardware Engineering,” Tesla explained in a statement. “Jim will bring together the best internal and external hardware technologies to develop the safest, most advanced autopilot systems in the world.”
Shares of Tesla Motors Inc (NASDAQ:TSLA) are down 2.20% in pre-market trading this morning. The stock increased 0.79% or $1.5 during the last trading session, hitting $191.2. About 4,947 shares traded hands. TSLA has declined 28.87% since June 25, 2015 and is downtrending. It has underperformed the S&P500 by 18.66%.
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 51.49% above today’s ($191.2) 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 buys, and 5 selling transactions for a total of $12.70 million in net activity. Straubel Jeffrey B sold 10,000 shares worth $2.18M. Ehrenpreis Ira Matthew sold 16,698 shares worth $4.26 million. Ahuja Deepak sold 5,000 shares worth $1.29 million. 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 $25.04 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.