Brown Shipley& Co Ltd Reduces Stock Position in Tesla, Inc. $TSLA

Brown Shipley& Co Ltd lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the second quarter, HoldingsChannel.com reports. The fund owned 16,375 shares of the electric vehicle producer’s stock after selling 651 shares during the quarter. Tesla accounts for about 2.9% of Brown Shipley& Co Ltd’s portfolio, making the stock its 11th biggest position. Brown Shipley& Co Ltd’s holdings in Tesla were worth $5,202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC boosted its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.3%

Shares of TSLA opened at $459.46 on Thursday. The company’s fifty day moving average is $359.13 and its 200 day moving average is $318.62. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.53 trillion, a PE ratio of 265.58, a P/E/G ratio of 15.46 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. Finally, CICC Research lifted their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $337.15.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.