Brighton Jones LLC Sells 2,236 Shares of Tesla, Inc. (NASDAQ:TSLA)

Brighton Jones LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 78,636 shares of the electric vehicle producer’s stock after selling 2,236 shares during the period. Tesla comprises about 0.8% of Brighton Jones LLC’s holdings, making the stock its 20th biggest position. Brighton Jones LLC’s holdings in Tesla were worth $20,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. YHB Investment Advisors Inc. grew its holdings in Tesla by 16.7% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,613 shares of the electric vehicle producer’s stock valued at $684,000 after buying an additional 374 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Capital Investment Counsel Inc grew its holdings in shares of Tesla by 14.1% in the third quarter. Capital Investment Counsel Inc now owns 3,370 shares of the electric vehicle producer’s stock valued at $882,000 after purchasing an additional 416 shares in the last quarter. McAdam LLC increased its position in Tesla by 1.4% in the third quarter. McAdam LLC now owns 7,232 shares of the electric vehicle producer’s stock worth $1,892,000 after purchasing an additional 100 shares during the last quarter. Finally, RAM Investment Partners LLC raised its stake in Tesla by 1.4% during the third quarter. RAM Investment Partners LLC now owns 4,108 shares of the electric vehicle producer’s stock valued at $1,075,000 after purchasing an additional 58 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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 directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. Jefferies Financial Group boosted their price objective on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, KGI Securities restated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $211.63.

Tesla Price Performance

Shares of TSLA opened at $213.65 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a 50 day moving average price of $228.54 and a 200-day moving average price of $206.41. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The stock has a market capitalization of $682.53 billion, a PE ratio of 60.01, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal 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.