Brio Consultants LLC Cuts Position in Tesla, Inc. $TSLA

Brio Consultants LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 96.1% during the second quarter, Holdings Channel reports. The institutional investor owned 798 shares of the electric vehicle producer’s stock after selling 19,902 shares during the period. Brio Consultants LLC’s holdings in Tesla were worth $253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Merchants Corp grew its holdings in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares during the period. Alaska Wealth Advisors boosted its position in Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares in the last quarter. KWB Wealth boosted its position in Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its holdings in Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. increased its position in shares of Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TSLA shares. Canaccord Genuity Group decreased their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. President Capital lifted their target price on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price target on shares of Tesla in a report on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eleven have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $391.08.

Tesla Stock Performance

Shares of TSLA opened at $429.52 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company’s 50 day simple moving average is $420.97 and its 200 day simple moving average is $355.54. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the firm posted $0.72 EPS. Tesla’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.