Brogan Financial Inc. Lowers Stock Holdings in Tesla, Inc. $TSLA

Brogan Financial Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,488 shares of the electric vehicle producer’s stock after selling 244 shares during the period. Brogan Financial Inc.’s holdings in Tesla were worth $473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Chelsea Counsel Co. grew its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Tesla in the second quarter valued at about $29,000. Evergreen Private Wealth LLC increased its stake in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 81 shares during the period. Glynn Capital Management LLC purchased a new position in Tesla during the second quarter worth about $35,000. Finally, Pacific Center for Financial Services lifted its position in Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after purchasing an additional 46 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho increased their target price on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Truist Financial upped their price objective on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Melius Research set a $520.00 target price on Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Barclays reaffirmed a “negative” rating and set a $350.00 price target (up from $275.00) on shares of Tesla in a research note on Thursday, October 16th. Finally, UBS Group reiterated a “sell” rating on shares of Tesla in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $391.08.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $430.60 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $427.33 and its 200 day moving average price is $359.18. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 287.07, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

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.