Farmers & Merchants Investments Inc. Sells 235 Shares of Tesla, Inc. (NASDAQ:TSLA)

Farmers & Merchants Investments Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 6.6% in the second quarter, HoldingsChannel.com reports. The firm owned 3,308 shares of the electric vehicle producer’s stock after selling 235 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Tesla were worth $655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Synergy Asset Management LLC boosted its holdings in Tesla by 28.8% in the 2nd quarter. Synergy Asset Management LLC now owns 23,550 shares of the electric vehicle producer’s stock worth $4,660,000 after buying an additional 5,266 shares during the period. Blue Barn Wealth LLC lifted its position in shares of Tesla by 21.6% in the second quarter. Blue Barn Wealth LLC now owns 1,805 shares of the electric vehicle producer’s stock valued at $357,000 after acquiring an additional 321 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Tesla by 1.2% in the second quarter. Arizona State Retirement System now owns 830,961 shares of the electric vehicle producer’s stock worth $164,431,000 after acquiring an additional 9,941 shares during the period. Childress Capital Advisors LLC grew its position in shares of Tesla by 13.5% during the second quarter. Childress Capital Advisors LLC now owns 6,922 shares of the electric vehicle producer’s stock worth $1,370,000 after purchasing an additional 825 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Tesla by 0.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,984,019 shares of the electric vehicle producer’s stock valued at $392,598,000 after purchasing an additional 8,296 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 25.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Royal Bank of Canada reduced their price target on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Truist Financial restated a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. The Goldman Sachs Group decreased their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, HSBC raised their price target on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $204.21.

Tesla Trading Down 8.4 %

NASDAQ TSLA opened at $210.73 on Friday. The stock has a market cap of $673.21 billion, a PE ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The company’s 50-day moving average price is $224.47 and its 200-day moving average price is $193.60. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current 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.