Warburton Capital Management LLC Reduces Position in Tesla, Inc. $TSLA

Warburton Capital Management LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 807 shares of the electric vehicle producer’s stock after selling 52 shares during the quarter. Warburton Capital Management LLC’s holdings in Tesla were worth $259,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the first quarter worth about $27,000. Chelsea Counsel Co. raised its stake in Tesla by 59.7% during the first 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 in the last quarter. Centennial Bank AR raised its stake in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla during the second quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC raised its stake in Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Cantor Fitzgerald set a $510.00 price objective on Tesla in a research note on Thursday. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. HSBC increased their price target on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, UBS Group set a $247.00 price target on Tesla in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $380.97.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $448.98 on Friday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 299.32, a price-to-earnings-growth ratio of 15.78 and a beta of 2.08. The business has a 50 day simple moving average of $396.00 and a 200 day simple moving average of $338.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.72% and a net margin of 5.51%.The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. On average, equities research analysts anticipate 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.