Gilbert & Cook Inc. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Gilbert & Cook Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,756 shares of the electric vehicle producer’s stock after selling 1,410 shares during the period. Tesla comprises approximately 0.4% of Gilbert & Cook Inc.’s portfolio, making the stock its 22nd largest holding. Gilbert & Cook Inc.’s holdings in Tesla were worth $2,524,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Integris Wealth Management LLC raised its stake in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Echo Wealth Management LLC grew its position in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co increased its stake 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 valued at $284,000 after buying an additional 45 shares during the period. Bellevue Asset Management LLC lifted its stake in Tesla by 1.6% in the second 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 period. Finally, Cypress Capital Group grew its holdings in Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after acquiring an additional 47 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 3.8 %

NASDAQ TSLA traded up $7.83 on Monday, hitting $214.11. 63,370,598 shares of the stock were exchanged, compared to its average volume of 97,536,000. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a 50-day moving average price of $222.00 and a 200-day moving average price of $192.91. The company has a market cap of $682.84 billion, a PE ratio of 54.62, a PEG ratio of 5.55 and a beta of 2.31. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TSLA shares. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Monday, July 29th. Barclays decreased their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Royal Bank of Canada dropped their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, June 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $204.21.

Insiders Place Their Bets

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 transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction 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 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 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.