Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,099 shares of the electric vehicle producer’s stock after selling 672 shares during the quarter. Appleton Partners Inc. MA’s holdings in Tesla were worth $288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. ARK Investment Management LLC boosted its holdings in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 3.4 %

Shares of TSLA opened at $240.66 on Friday. 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 company has a market capitalization of $767.51 billion, a PE ratio of 61.39, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The stock has a fifty day moving average of $223.40 and a two-hundred day moving average of $200.86.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 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%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and set a $224.00 price objective on shares of Tesla in a research report on Wednesday, September 25th. Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Monday. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $210.54.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by insiders.

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.