JBR Co Financial Management Inc Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

JBR Co Financial Management Inc decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,220 shares of the electric vehicle producer’s stock after selling 485 shares during the quarter. Tesla comprises about 0.9% of JBR Co Financial Management Inc’s investment portfolio, making the stock its 27th biggest holding. JBR Co Financial Management Inc’s holdings in Tesla were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of TSLA. Bank & Trust Co bought a new position in shares of Tesla during the second quarter valued at $25,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. lifted its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Barclays lowered their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Guggenheim increased their price objective on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $254.00 target price on shares of Tesla in a research report on Friday, September 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Trading Down 8.8 %

Shares of NASDAQ TSLA traded down $20.97 during trading hours on Friday, hitting $217.80. 142,628,874 shares of the company traded hands, compared to its average volume of 77,163,496. The stock has a market capitalization of $695.79 billion, a price-to-earnings ratio of 61.18, a price-to-earnings-growth ratio of 6.48 and a beta of 2.29. The company’s 50 day moving average price is $225.43 and its 200 day moving average price is $203.79. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last 90 days. Insiders own 20.70% of the company’s stock.

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.