Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lessened by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,358 shares of the electric vehicle producer’s stock after selling 905 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in Tesla were worth $664,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its holdings in shares of Tesla by 0.6% in the second quarter. Coldstream Capital Management Inc. now owns 54,655 shares of the electric vehicle producer’s stock valued at $10,815,000 after purchasing an additional 312 shares in the last quarter. Vantage Financial Partners LLC boosted its position in shares of Tesla by 45.9% during the second quarter. Vantage Financial Partners LLC now owns 6,664 shares of the electric vehicle producer’s stock worth $1,319,000 after purchasing an additional 2,098 shares in the last quarter. Malaga Cove Capital LLC raised its stake in shares of Tesla by 2.7% in the 2nd quarter. Malaga Cove Capital LLC now owns 23,713 shares of the electric vehicle producer’s stock valued at $4,692,000 after purchasing an additional 615 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Tesla by 10.0% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,614 shares of the electric vehicle producer’s stock worth $517,000 after purchasing an additional 237 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Tesla by 24.2% in the second quarter. Daiwa Securities Group Inc. now owns 1,315,960 shares of the electric vehicle producer’s stock valued at $260,402,000 after buying an additional 256,594 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Wolfe Research started coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a report on Friday, July 5th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a report on Wednesday, July 24th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and upped their price target for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Finally, HSBC upped their price target on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $209.03.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 transaction, 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. 25.10% of the stock is owned by insiders.

Tesla Stock Performance

Shares of Tesla stock traded up $7.11 on Tuesday, hitting $223.38. The stock had a trading volume of 10,791,843 shares, compared to its average volume of 96,857,367. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98. The business’s 50 day moving average is $224.59 and its two-hundred day moving average is $193.72. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $713.62 billion, a price-to-earnings ratio of 55.17, a price-to-earnings-growth ratio of 5.57 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 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 the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. Analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

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.