Brown Shipley& Co Ltd Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Brown Shipley& Co Ltd reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 21,223 shares of the electric vehicle producer’s stock after selling 3,120 shares during the period. Tesla comprises approximately 2.7% of Brown Shipley& Co Ltd’s holdings, making the stock its 12th largest position. Brown Shipley& Co Ltd’s holdings in Tesla were worth $5,553,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. EMC Capital Management boosted its holdings in Tesla by 200.0% during the first quarter. EMC Capital Management now owns 1,500 shares of the electric vehicle producer’s stock worth $249,000 after buying an additional 1,000 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its stake in shares of Tesla by 33.9% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 6,227 shares of the electric vehicle producer’s stock worth $1,095,000 after acquiring an additional 1,575 shares in the last quarter. Independent Wealth Network Inc. increased its stake in Tesla by 6.8% in the 1st quarter. Independent Wealth Network Inc. now owns 1,413 shares of the electric vehicle producer’s stock valued at $248,000 after purchasing an additional 90 shares in the last quarter. LRI Investments LLC acquired a new position in Tesla during the first quarter worth $100,000. Finally, Sanibel Captiva Trust Company Inc. boosted its position in Tesla by 186.8% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 20,282 shares of the electric vehicle producer’s stock worth $3,565,000 after purchasing an additional 13,209 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $332.89 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company’s fifty day moving average price is $270.63 and its two-hundred day moving average price is $229.89. The firm has a market capitalization of $1.07 trillion, a P/E ratio of 91.20, a P/E/G ratio of 11.00 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSLA. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $231.06.

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.