Macguire Cheswick & Tuttle Investment Counsel LLC Lowers Stake in Tesla Inc. (NASDAQ:TSLA)
Macguire Cheswick & Tuttle Investment Counsel LLC reduced its stake in Tesla Inc. (NASDAQ:TSLA) by 13.9% during the second quarter, Holdings Channel reports. The institutional investor owned 714 shares of the electric vehicle producer’s stock after selling 115 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Tesla were worth $258,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of TSLA. Crestwood Advisors Group LLC purchased a new stake in shares of Tesla during the first quarter valued at $101,000. SRS Capital Advisors Inc. boosted its stake in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock valued at $109,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. boosted its stake in shares of Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock valued at $118,000 after buying an additional 150 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Tesla during the first quarter valued at $122,000. Finally, Acropolis Investment Management LLC purchased a new stake in shares of Tesla during the second quarter valued at $122,000. Institutional investors and hedge funds own 63.71% of the company’s stock.
Tesla Inc. (NASDAQ:TSLA) opened at 357.87 on Friday. The stock’s market cap is $59.72 billion. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99. The firm’s 50-day moving average price is $341.13 and its 200-day moving average price is $307.07.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted ($1.06) EPS. The firm’s quarterly revenue was up 119.6% on a year-over-year basis. On average, analysts predict that Tesla Inc. will post ($6.29) earnings per share for the current year.
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Several equities research analysts have weighed in on TSLA shares. Goldman Sachs Group, Inc. (The) upped their target price on Tesla from $180.00 to $190.00 in a report on Friday, August 4th. Dougherty & Co reissued a “buy” rating and issued a $375.00 price target (down from $500.00) on shares of Tesla in a research report on Wednesday, April 26th. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Tuesday, April 25th. Guggenheim reissued a “buy” rating and issued a $320.00 price target on shares of Tesla in a research report on Wednesday, April 19th. Finally, Berenberg Bank raised Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $309.70.
In other news, Director Kimbal Musk sold 4,690 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.10% of the company’s stock.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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