Davidson Investment Advisors Decreases Stock Holdings in Tesla, Inc. $TSLA

Davidson Investment Advisors trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 880 shares of the electric vehicle producer’s stock after selling 208 shares during the quarter. Davidson Investment Advisors’ holdings in Tesla were worth $280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Brighton Jones LLC grew its holdings in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its holdings in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC grew its holdings in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. GAMMA Investing LLC grew its holdings in Tesla by 6.0% during the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock valued at $9,812,000 after purchasing an additional 2,153 shares during the period. Finally, CWA Asset Management Group LLC grew its holdings in Tesla by 7.2% during the first quarter. CWA Asset Management Group LLC now owns 25,189 shares of the electric vehicle producer’s stock valued at $6,528,000 after purchasing an additional 1,699 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TSLA. Barclays reissued a “negative” rating and set a $350.00 price objective (up from $275.00) on shares of Tesla in a report on Thursday. Canaccord Genuity Group increased their price objective on Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. UBS Group set a $247.00 price objective on Tesla in a report on Monday, October 6th. Benchmark reissued a “buy” rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Royal Bank Of Canada increased their price objective on Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $363.54.

Tesla Price Performance

NASDAQ:TSLA opened at $428.75 on Friday. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a fifty day moving average of $385.34 and a 200 day moving average of $332.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last 90 days. Corporate insiders own 19.90% of the company’s stock.

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.