Focus Financial Network Inc. Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Focus Financial Network Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 27.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,761 shares of the electric vehicle producer’s stock after selling 8,788 shares during the quarter. Focus Financial Network Inc.’s holdings in Tesla were worth $4,504,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter worth $25,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the fourth quarter valued at $37,000. Kessler Investment Group LLC grew its stake in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares in the last quarter. Aspect Partners LLC increased its holdings in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 114 shares during the period. Finally, Kathleen S. Wright Associates Inc. boosted its stake in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s 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 completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $1.62 during mid-day trading on Tuesday, hitting $221.10. The stock had a trading volume of 73,793,930 shares, compared to its average volume of 99,017,109. The company has a 50 day simple moving average of $216.12 and a 200 day simple moving average of $191.23. 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 company has a market cap of $705.13 billion, a price-to-earnings ratio of 56.03, a P/E/G ratio of 5.22 and a beta of 2.31. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Glj Research increased their price objective on Tesla from $22.86 to $24.86 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Argus reiterated a “buy” rating and set a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Piper Sandler restated an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research note on Monday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Monday, July 29th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $204.21.

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.