Brown Shipley& Co Ltd Sells 3,879 Shares of Tesla, Inc. (NASDAQ:TSLA)

Brown Shipley& Co Ltd reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 24,343 shares of the electric vehicle producer’s stock after selling 3,879 shares during the quarter. Tesla makes up 2.2% of Brown Shipley& Co Ltd’s portfolio, making the stock its 14th biggest position. Brown Shipley& Co Ltd’s holdings in Tesla were worth $4,817,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Integris Wealth Management LLC increased its stake in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC grew its holdings in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its position in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares in the last quarter. Bellevue Asset Management LLC raised its holdings in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after acquiring an additional 45 shares during the last quarter. Finally, Cypress Capital Group lifted its position in Tesla by 1.7% in the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on TSLA shares. Stifel Nicolaus initiated coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. HSBC upped their target price on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Monday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Finally, Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Thursday. Nine 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.com, Tesla has an average rating of “Hold” and an average price target of $209.90.

Tesla Stock Performance

Shares of TSLA opened at $260.46 on Monday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The stock’s 50-day simple moving average is $221.89 and its 200 day simple moving average is $198.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market capitalization of $830.66 billion, a price-to-earnings ratio of 66.44, a price-to-earnings-growth ratio of 6.92 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. Research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were 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 directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 in the last three months. Company 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.