HM Payson & Co. Has $707,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

HM Payson & Co. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,021 shares of the electric vehicle producer’s stock after selling 212 shares during the quarter. HM Payson & Co.’s holdings in Tesla were worth $707,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Lam Group Inc. acquired a new position in Tesla during the fourth quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the fourth quarter valued at approximately $37,000. Guardian Wealth Management Inc. acquired a new position in Tesla during the fourth quarter valued at approximately $47,000. Kathleen S. Wright Associates Inc. grew its holdings in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the period. Finally, A.P. Gilfoyle & Co. L.P. acquired a new position in Tesla during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. The Goldman Sachs Group cut their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler lifted their price target on shares of Tesla from $205.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Canaccord Genuity Group lifted their price target on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $204.30.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $9.19 on Friday, hitting $207.67. The company had a trading volume of 82,880,120 shares, compared to its average volume of 126,158,848. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The stock has a market cap of $663.43 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 5.60 and a beta of 2.31. The stock has a 50 day moving average price of $210.01 and a 200 day moving average price of $190.87. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 1.79 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,719 shares of company stock worth $32,032,968. Corporate insiders own 25.10% of the company’s stock.

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.