Brown Lisle Cummings Inc. Has $1.75 Million Position in Tesla, Inc. $TSLA

Key Points

• Brown Lisle Cummings Inc. increased its position in Tesla, Inc. by 41.7% in the second quarter, holding shares valued at approximately $1.75 million.
• Several institutional investors raised their stakes in Tesla during the same period, with 66.20% of the stock now owned by institutional investors.
• Tesla's stock was downgraded by UBS Group to a "sell" rating", while other analysts set varied price targets ranging from $175.00 to $450.00, indicating mixed opinions on the stock's performance.

Brown Lisle Cummings Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,505 shares of the electric vehicle producer's stock after purchasing an additional 1,620 shares during the quarter. Brown Lisle Cummings Inc.'s holdings in Tesla were worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of TSLA. West Branch Capital LLC grew its position in shares of Tesla by 13.2% during the 2nd quarter. West Branch Capital LLC now owns 10,054 shares of the electric vehicle producer's stock valued at $3,194,000 after acquiring an additional 1,171 shares during the period. Advisors Management Group Inc. ADV grew its position in shares of Tesla by 8.8% in the second quarter. Advisors Management Group Inc. ADV now owns 1,906 shares of the electric vehicle producer's stock valued at $605,000 after purchasing an additional 154 shares during the period. Signaturefd LLC raised its stake in Tesla by 4.5% during the second quarter. Signaturefd LLC now owns 104,494 shares of the electric vehicle producer's stock worth $33,193,000 after purchasing an additional 4,494 shares during the period. ORG Partners LLC raised its stake in shares of Tesla by 5.1% in the second quarter. ORG Partners LLC now owns 5,405 shares of the electric vehicle producer's stock valued at $1,625,000 after acquiring an additional 260 shares in the last quarter. Finally, Rainier Family Wealth Inc. increased its holdings in shares of Tesla by 9.0% in the 2nd quarter. Rainier Family Wealth Inc. now owns 2,113 shares of the electric vehicle producer's stock valued at $671,000 after acquiring an additional 175 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 over the last three months. 19.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TSLA. Stifel Nicolaus set a $440.00 price objective on Tesla in a report on Friday, September 5th. UBS Group reiterated a "sell" rating on shares of Tesla in a report on Monday, September 22nd. Dbs Bank increased their price target on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Guggenheim restated a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $332.33.

Tesla Trading Up 4.0%

NASDAQ:TSLA opened at $440.40 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.46 trillion, a PE ratio of 254.57, a PEG ratio of 15.36 and a beta of 2.06. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The firm has a 50-day moving average of $352.05 and a 200-day moving average of $314.88.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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