Sterling Investment Counsel LLC Sells 1,095 Shares of Tesla, Inc. $TSLA

Sterling Investment Counsel LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 37.4% in the second quarter, HoldingsChannel.com reports. The fund owned 1,835 shares of the electric vehicle producer’s stock after selling 1,095 shares during the period. Sterling Investment Counsel LLC’s holdings in Tesla were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. increased its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on 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 transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock worth $77,360,462. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 1.4%

TSLA opened at $429.83 on Friday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.43 trillion, a P/E ratio of 248.46, a P/E/G ratio of 14.93 and a beta of 2.08. The stock has a fifty day moving average of $364.02 and a 200-day moving average of $321.99.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Argus reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Finally, Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $343.43.

Tesla 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.