Grimes & Company Inc. Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Grimes & Company Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,810 shares of the electric vehicle producer’s stock after selling 288 shares during the quarter. Grimes & Company Inc.’s holdings in Tesla were worth $1,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the 4th quarter worth $25,000. Mendota Financial Group LLC raised its holdings in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the 4th quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. grew its holdings in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. HSBC reduced their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Guggenheim reiterated a “sell” rating and issued a $126.00 price objective on shares of Tesla in a research report on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $230.00 target price on shares of Tesla in a research report on Monday, June 24th. Finally, Citigroup reiterated a “neutral” rating on shares of Tesla in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $187.30.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,855 shares of company stock valued at $19,285,643. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Up 0.2 %

Shares of NASDAQ:TSLA opened at $197.88 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The stock has a market cap of $631.08 billion, a price-to-earnings ratio of 50.48, a price-to-earnings-growth ratio of 4.91 and a beta of 2.32. The firm’s 50 day moving average price is $177.80 and its 200 day moving average price is $191.71.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, equities research analysts predict that Tesla, Inc. will post 1.86 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.