Brogan Financial Inc. Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Brogan Financial Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 15.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,005 shares of the electric vehicle producer’s stock after selling 190 shares during the quarter. Brogan Financial Inc.’s holdings in Tesla were worth $263,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Axiom Financial Strategies LLC lifted its position in Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after buying an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Tesla by 19.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after purchasing an additional 164,789 shares during the period. MAS Advisors LLC raised its position in Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after purchasing an additional 81 shares during the period. Ergoteles LLC raised its position in Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after purchasing an additional 893 shares during the period. Finally, Mackenzie Financial Corp raised its position in Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 2,500 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $257.23, for a total transaction of $643,075.00. Following the sale, the senior vice president now owns 57,972 shares in the company, valued at approximately $14,912,137.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 2,500 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $257.23, for a total transaction of $643,075.00. Following the transaction, the senior vice president now owns 57,972 shares of the company’s stock, valued at approximately $14,912,137.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $242.53, for a total value of $2,546,565.00. Following the transaction, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,209,250.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,065 shares of company stock worth $10,248,880. Company insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their target price on Tesla from $250.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Thursday, October 19th. Piper Sandler dropped their price objective on Tesla from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Morgan Stanley dropped their price objective on Tesla from $400.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $260.00 price objective on shares of Tesla in a research note on Friday, September 22nd. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $233.87.

Tesla Stock Performance

TSLA traded down $1.23 on Monday, hitting $233.07. 73,396,174 shares of the company traded hands, compared to its average volume of 139,763,328. The company has a 50 day moving average of $240.04 and a 200-day moving average of $238.24. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $740.91 billion, a PE ratio of 74.81, a PEG ratio of 4.38 and a beta of 2.28. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $299.29.

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

Tesla Company Profile

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.