Massachusetts Financial Services Co. MA Sells 27,523 Shares of Tesla, Inc. (NASDAQ:TSLA)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,291 shares of the electric vehicle producer’s stock after selling 27,523 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Tesla were worth $14,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. DDFG Inc boosted its position in shares of Tesla by 7.1% in the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after acquiring an additional 71 shares during the period. Vantage Financial Partners LLC grew its position in shares of Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock valued at $1,432,000 after purchasing an additional 346 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of Tesla by 8.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock worth $3,357,000 after purchasing an additional 1,086 shares during the period. 9258 Wealth Management LLC raised its position in shares of Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after buying an additional 69 shares in the last quarter. Finally, Rollins Financial grew its position in Tesla by 10.2% during the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after buying an additional 11,191 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSLA shares. Argus reiterated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Piper Sandler restated an “overweight” rating and set a $300.00 price target on shares of Tesla in a research report on Monday, August 19th. Finally, Barclays cut their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Trading Down 2.3 %

Shares of NASDAQ TSLA opened at $238.25 on Friday. The stock has a market cap of $759.83 billion, a P/E ratio of 60.78, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The firm has a 50-day moving average of $221.30 and a 200 day moving average of $195.84.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 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. Corporate insiders own 25.10% of the company’s stock.

About Tesla

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.