Chapin Davis Inc. Sells 343 Shares of Tesla, Inc. (NASDAQ:TSLA)

Chapin Davis Inc. lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,491 shares of the electric vehicle producer’s stock after selling 343 shares during the period. Chapin Davis Inc.’s holdings in Tesla were worth $789,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Apexium Financial LP increased its position in shares of Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after acquiring an additional 350 shares during the period. Forum Financial Management LP increased its stake in shares of Tesla by 19.7% in the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after acquiring an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Catalyst Financial Partners LLC increased its position in shares of Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after acquiring an additional 598 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TSLA shares. Evercore ISI cut their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Canaccord Genuity Group lowered their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Truist Financial cut their price target on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price for the company. Finally, HSBC lowered their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $187.30.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA traded up $8.35 during mid-day trading on Monday, hitting $206.23. The company’s stock had a trading volume of 19,000,260 shares, compared to its average volume of 94,650,234. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market capitalization of $657.71 billion, a PE ratio of 51.26, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31. The stock’s 50-day moving average is $177.80 and its two-hundred day moving average is $191.38.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current 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.