Evermay Wealth Management LLC Sells 233 Shares of Tesla, Inc. $TSLA

Evermay Wealth Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,208 shares of the electric vehicle producer’s stock after selling 233 shares during the period. Evermay Wealth Management LLC’s holdings in Tesla were worth $1,019,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Siren L.L.C. acquired a new position in Tesla during the first quarter worth $2,332,000. Zuckerman Investment Group LLC increased its position in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new position in Tesla during the 1st quarter valued at about $594,000. Strs Ohio acquired a new position in Tesla in the first quarter valued at about $205,495,000. Finally, IFM Investors Pty Ltd grew its stake in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after buying an additional 46,087 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their target price on shares of Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. BNP Paribas Exane started coverage on Tesla in a report on Thursday. They set an “underperform” rating and a $307.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Melius started coverage on shares of Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $363.54.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $439.31 on Monday. The business’s 50-day simple moving average is $387.54 and its 200 day simple moving average is $334.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.