Brighton Jones LLC Has $22.04 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Brighton Jones LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,050 shares of the electric vehicle producer’s stock after selling 2,879 shares during the quarter. Tesla accounts for approximately 0.7% of Brighton Jones LLC’s investment portfolio, making the stock its 23rd largest position. Brighton Jones LLC’s holdings in Tesla were worth $22,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. increased its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. Navigoe LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock valued at $273,791,775 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Mizuho upped their target price on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, HSBC reduced their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $293.67.

Tesla Trading Up 1.9%

NASDAQ TSLA opened at $325.31 on Friday. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The business has a fifty day simple moving average of $299.39 and a 200 day simple moving average of $332.88. Tesla, Inc. has a 12 month low of $177.00 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the business earned $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.