Moors & Cabot Inc. Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Moors & Cabot Inc. reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,747 shares of the electric vehicle producer’s stock after selling 5,946 shares during the period. Moors & Cabot Inc.’s holdings in Tesla were worth $7,271,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Bank & Trust Co acquired a new position in Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the fourth quarter worth $37,000. Kessler Investment Group LLC grew its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Finally, Aspect Partners LLC increased its holdings in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly 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 at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on 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 owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSLA shares. Citigroup dropped their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. KGI Securities reissued a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Argus reiterated a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Stifel Nicolaus started coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective for the company. Finally, New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $209.60.

Tesla Stock Performance

Shares of Tesla stock opened at $226.78 on Tuesday. The business’s fifty day simple moving average is $222.85 and its 200-day simple moving average is $194.75. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $723.25 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. Tesla’s revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current 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.