Weil Company Inc. Sells 270 Shares of Tesla, Inc. (NASDAQ:TSLA)

Weil Company Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,037 shares of the electric vehicle producer’s stock after selling 270 shares during the period. Weil Company Inc.’s holdings in Tesla were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Flynn Zito Capital Management LLC raised its position in shares of Tesla by 4.9% in the 2nd quarter. Flynn Zito Capital Management LLC now owns 3,235 shares of the electric vehicle producer’s stock worth $640,000 after acquiring an additional 152 shares in the last quarter. North Star Asset Management Inc. grew its stake in Tesla by 8.2% in the second quarter. North Star Asset Management Inc. now owns 6,040 shares of the electric vehicle producer’s stock worth $1,195,000 after purchasing an additional 458 shares during the period. New York Life Investment Management LLC raised its holdings in Tesla by 1.1% in the second quarter. New York Life Investment Management LLC now owns 424,591 shares of the electric vehicle producer’s stock worth $84,018,000 after purchasing an additional 4,655 shares in the last quarter. Fluent Financial LLC lifted its position in Tesla by 108.6% during the second quarter. Fluent Financial LLC now owns 8,897 shares of the electric vehicle producer’s stock valued at $1,761,000 after buying an additional 4,632 shares during the period. Finally, Addison Advisors LLC boosted its holdings in shares of Tesla by 89.1% during the 2nd quarter. Addison Advisors LLC now owns 987 shares of the electric vehicle producer’s stock valued at $195,000 after buying an additional 465 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 25.10% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $210.73 on Friday. The firm’s 50 day simple moving average is $224.47 and its two-hundred day simple moving average is $193.60. 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 company has a market capitalization of $673.21 billion, a P/E ratio of 53.76, a P/E/G ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and lifted their target price for the company from $147.00 to $197.00 in a report on Friday, July 12th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. The Goldman Sachs Group reduced their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, HSBC boosted their target price on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $204.21.

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.