Brighton Jones LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Brighton Jones LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 80,872 shares of the electric vehicle producer’s stock after purchasing an additional 8,343 shares during the quarter. Brighton Jones LLC’s holdings in Tesla were worth $16,003,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter valued at approximately $37,000. Kessler Investment Group LLC increased its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the last quarter. Finally, Aspect Partners LLC increased its holdings in shares of Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after acquiring an additional 114 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred 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 owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

TSLA opened at $243.92 on Friday. The company has a market cap of $777.91 billion, a PE ratio of 62.22, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. The stock has a 50-day moving average of $221.50 and a 200-day moving average of $195.49. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Guggenheim boosted their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. TD Cowen boosted their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, KGI Securities restated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $209.60.

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.