Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 11.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,872 shares of the electric vehicle producer’s stock after acquiring an additional 8,343 shares during the quarter. Brighton Jones LLC’s holdings in Tesla were worth $16,003,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Integris Wealth Management LLC boosted its holdings in shares of 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 during the period. Echo Wealth Management LLC boosted its holdings in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co boosted its holdings in shares of Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares during the period. Bellevue Asset Management LLC lifted its holdings in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. Finally, Cypress Capital Group lifted its holdings in shares of Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA opened at $243.92 on Friday. The firm has a market capitalization of $777.91 billion, a P/E ratio of 62.22, a P/E/G ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business’s 50-day simple moving average is $221.50 and its 200-day simple moving average is $195.49.

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

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Guggenheim increased their price objective on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Stifel Nicolaus began coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research report on Monday, August 19th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $209.60.

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.