Appleton Partners Inc. MA Has $340,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Appleton Partners Inc. MA cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 52.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,933 shares of the electric vehicle producer’s stock after selling 2,137 shares during the period. Appleton Partners Inc. MA’s holdings in Tesla were worth $340,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC purchased a new position in Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. acquired a new position in Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC lifted its stake in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its holdings in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA traded down $3.62 during midday trading on Tuesday, reaching $183.82. The company had a trading volume of 37,234,133 shares, compared to its average volume of 96,416,828. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The business has a 50-day moving average price of $173.19 and a two-hundred day moving average price of $194.61. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The stock has a market cap of $586.24 billion, a PE ratio of 46.66, a P/E/G ratio of 4.41 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. On average, sell-side analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Wednesday, April 24th. Mizuho lowered their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 price target on shares of Tesla in a report on Wednesday, June 12th. Royal Bank of Canada dropped their price objective on Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Wednesday, June 12th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.90.

Tesla 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.