Chapin Davis Inc. Sells 343 Shares of Tesla, Inc. (NASDAQ:TSLA)

Chapin Davis Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 7.1% during the first quarter, Holdings Channel.com reports. The firm owned 4,491 shares of the electric vehicle producer’s stock after selling 343 shares during the quarter. Chapin Davis Inc.’s holdings in Tesla were worth $789,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Apexium Financial LP lifted its stake in Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after acquiring an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its stake in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after acquiring an additional 350 shares in the last quarter. Forum Financial Management LP lifted its stake in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its stake in Tesla by 9.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after acquiring an additional 598 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on TSLA. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 price objective on shares of Tesla in a research note on Monday, June 24th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price on shares of Tesla in a research report on Monday, April 22nd. Royal Bank of Canada decreased their target price on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Canaccord Genuity Group decreased their target price on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 target price on shares of Tesla in a research report on Monday. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $187.30.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Up 4.2 %

Shares of TSLA traded up $8.35 during trading hours on Monday, hitting $206.23. The company had a trading volume of 19,000,260 shares, compared to its average volume of 94,650,234. The company has a market capitalization of $657.71 billion, a PE ratio of 51.26, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company’s fifty day moving average price is $177.80 and its two-hundred day moving average price is $191.38.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, equities analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Tesla 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.