Ferguson Wellman Capital Management Inc. Has $7.11 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,421 shares of the electric vehicle producer’s stock after purchasing an additional 532 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Tesla were worth $7,107,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TSLA. Wealth Group Ltd. purchased a new stake in shares of Tesla during the 4th quarter valued at $275,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Tesla during the fourth quarter worth about $1,361,000. Tallon Kerry Patrick purchased a new stake in Tesla during the fourth quarter worth about $374,000. Eagle Capital Management LLC bought a new stake in Tesla in the fourth quarter worth about $331,000. Finally, Brighton Jones LLC boosted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now owns 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $24,274,300. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock worth $273,791,775 over the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $326.43 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The stock’s 50-day moving average is $295.60 and its two-hundred day moving average is $333.11. Tesla, Inc. has a 1-year low of $169.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business earned $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group cut their target price on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Mizuho boosted their target price on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Royal Bank of Canada dropped their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Finally, Glj Research reissued a “sell” rating and issued a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.67.

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.