Tesla, Inc. (NASDAQ:TSLA) Stock Position Reduced by First Foundation Advisors

First Foundation Advisors decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 28.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,319 shares of the electric vehicle producer’s stock after selling 2,070 shares during the quarter. First Foundation Advisors’ holdings in Tesla were worth $1,053,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TSLA. DDFG Inc grew its stake in shares of Tesla by 7.1% in the 4th quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock valued at $265,000 after buying an additional 71 shares in the last quarter. Vantage Financial Partners LLC raised its holdings in shares of Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock valued at $1,432,000 after purchasing an additional 346 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in shares of Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after purchasing an additional 1,086 shares during the last quarter. 9258 Wealth Management LLC boosted its holdings in Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock worth $1,532,000 after purchasing an additional 69 shares in the last quarter. Finally, Rollins Financial raised its holdings in Tesla by 10.2% during the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock valued at $29,921,000 after buying an additional 11,191 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSLA. Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Finally, New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $204.21.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Up 2.6 %

Shares of TSLA opened at $216.27 on Tuesday. The company has a market capitalization of $690.90 billion, a P/E ratio of 55.17, a PEG ratio of 5.57 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The business’s 50 day simple moving average is $224.59 and its 200-day simple moving average is $193.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

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

Tesla Company 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.