Hemenway Trust Co LLC Sells 140 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hemenway Trust Co LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,375 shares of the electric vehicle producer’s stock after selling 140 shares during the period. Hemenway Trust Co LLC’s holdings in Tesla were worth $272,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSLA. Apexium Financial LP boosted its holdings in Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after acquiring an additional 21,972 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its position in shares of Tesla by 3.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after buying an additional 6,575 shares during the period. Newbridge Financial Services Group Inc. raised its stake in Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after buying an additional 1,943 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Tesla in the first quarter worth about $1,941,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Guggenheim reissued a “sell” rating and issued a $134.00 target price on shares of Tesla in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus started coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Nine equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $204.21.

Tesla Price Performance

Shares of Tesla stock traded down $7.12 during trading hours on Friday, reaching $223.05. The company’s stock had a trading volume of 33,776,172 shares, compared to its average volume of 97,072,938. The stock has a market cap of $711.35 billion, a P/E ratio of 57.18, a P/E/G ratio of 5.55 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a 50 day moving average price of $224.21 and a 200-day moving average price of $193.52.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. On average, analysts predict that Tesla, Inc. will post 1.79 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 25.10% 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.