Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Abbrea Capital LLC

Abbrea Capital LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 39.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,153 shares of the electric vehicle producer’s stock after selling 5,398 shares during the period. Abbrea Capital LLC’s holdings in Tesla were worth $1,613,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integris Wealth Management LLC boosted its stake in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Echo Wealth Management LLC lifted its holdings in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co boosted its position in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the period. Bellevue Asset Management LLC grew its stake in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares during the last quarter. Finally, Cypress Capital Group lifted its stake in Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSLA. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Monday. Barclays lowered their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Tesla in a report on Monday, August 19th. Finally, Guggenheim reissued a “sell” rating and set a $134.00 price target on shares of Tesla in a report on Tuesday, July 23rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $209.03.

Tesla Stock Up 0.7 %

Shares of NASDAQ:TSLA opened at $229.81 on Friday. The stock has a 50-day simple moving average of $223.80 and a 200-day simple moving average of $194.45. The stock has a market capitalization of $734.16 billion, a P/E ratio of 58.63, a PEG ratio of 6.03 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’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 completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

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.