Brogan Financial Inc. Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Brogan Financial Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,005 shares of the electric vehicle producer’s stock after selling 190 shares during the period. Brogan Financial Inc.’s holdings in Tesla were worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC increased its position in shares of Tesla by 14.9% in the second quarter. Stone House Investment Management LLC now owns 950 shares of the electric vehicle producer’s stock worth $249,000 after purchasing an additional 123 shares during the last quarter. Acorns Advisers LLC bought a new position in shares of Tesla in the second quarter worth approximately $368,000. Sax Wealth Advisors LLC increased its position in shares of Tesla by 1.2% in the second quarter. Sax Wealth Advisors LLC now owns 4,601 shares of the electric vehicle producer’s stock worth $1,204,000 after purchasing an additional 54 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Tesla in the second quarter worth approximately $325,000. Finally, ExodusPoint Capital Management LP bought a new position in Tesla during the second quarter valued at approximately $1,356,000. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Tesla from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 19th. UBS Group reduced their price target on shares of Tesla from $290.00 to $266.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 10th. The Goldman Sachs Group reiterated a “neutral” rating and set a $275.00 price target on shares of Tesla in a research report on Monday, September 18th. Canaccord Genuity Group reissued a “buy” rating and set a $293.00 price objective on shares of Tesla in a research report on Friday, September 29th. Finally, Barclays reissued an “equal weight” rating and set a $260.00 price objective on shares of Tesla in a research report on Friday, September 22nd. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $233.87.

Tesla Stock Performance

Shares of TSLA stock traded down $1.23 during trading hours on Monday, reaching $233.07. 73,396,174 shares of the company traded hands, compared to its average volume of 139,763,328. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.69 and a quick ratio of 1.18. The company has a market cap of $740.91 billion, a P/E ratio of 74.81, a P/E/G ratio of 4.38 and a beta of 2.28. The firm has a 50-day moving average price of $240.04 and a 200 day moving average price of $238.24.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a net margin of 11.21% and a return on equity of 21.47%. The company had revenue of $23.35 billion for the quarter, compared to analysts’ expectations of $24.19 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $210.67, for a total transaction of $2,212,035.00. Following the sale, the senior vice president now directly owns 68,102 shares of the company’s stock, valued at approximately $14,347,048.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $210.67, for a total transaction of $2,212,035.00. Following the sale, the senior vice president now directly owns 68,102 shares of the company’s stock, valued at approximately $14,347,048.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $257.23, for a total value of $643,075.00. Following the sale, the senior vice president now directly owns 57,972 shares in the company, valued at $14,912,137.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,065 shares of company stock valued at $10,248,880. 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. It 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, retail merchandise, and vehicle insurance services.