Davis R M Inc. Has $1.60 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Davis R M Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,105 shares of the electric vehicle producer’s stock after selling 696 shares during the period. Davis R M Inc.’s holdings in Tesla were worth $1,597,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at approximately $29,000. Bank & Trust Co acquired a new stake in Tesla in the second quarter worth $25,000. Clean Yield Group boosted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter valued at $26,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $231.06.

Tesla Stock Performance

NASDAQ:TSLA opened at $338.59 on Tuesday. The stock has a 50 day simple moving average of $266.31 and a 200 day simple moving average of $227.97. The stock has a market cap of $1.09 trillion, a P/E ratio of 92.76, a PEG ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,187 shares of company stock worth $92,956,692. Corporate insiders own 20.70% 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.