Watchman Group Inc. Sells 209 Shares of Tesla, Inc. $TSLA

Watchman Group Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,343 shares of the electric vehicle producer’s stock after selling 209 shares during the quarter. Tesla accounts for approximately 1.4% of Watchman Group Inc.’s holdings, making the stock its 19th biggest holding. Watchman Group Inc.’s holdings in Tesla were worth $5,192,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter worth approximately $29,000. Evergreen Private Wealth LLC boosted its holdings in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the period. Glynn Capital Management LLC bought a new position in Tesla in the 2nd quarter valued at $35,000. Finally, LSV Asset Management increased its stake in Tesla by 400.0% in the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 96 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $395.05 on Friday. The company has a 50 day moving average price of $433.65 and a 200 day moving average price of $363.54. The firm has a market capitalization of $1.31 trillion, a P/E ratio of 263.37, a PEG ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were 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 of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. HSBC restated a “reduce” rating on shares of Tesla in a report on Monday. Barclays reaffirmed a “negative” rating and set a $350.00 target price (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Truist Financial increased their price objective on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Dbs Bank raised Tesla to a “hold” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $394.31.

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.