Farmers & Merchants Investments Inc. sell 235 shares of Tesla, Inc. (NASDAQ:TSLA)

Farmers & Merchants Investments Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 6.6% in the second quarter, HoldingsChannel.com reports. The firm owned 3,308 shares of the electric vehicle maker’s stock after selling 235 shares during the period. Holdings held by Farmers & Merchants Investments Inc. holdings in Tesla were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have recently modified their holdings of the company. Synergy Asset Management LLC boosted its holdings in Tesla by 28.8% in the second quarter. Synergy Asset Management LLC now owns 23,550 shares of the electric vehicle maker’s stock worth $4,660,000 after buying an additional 5,266 shares during the period. Blue Barn Wealth LLC lifted its position in shares of Tesla by 21.6% in the second quarter. Blue Barn Wealth LLC now owns 1,805 shares of the electric vehicle maker’s stock valued at $357,000 after acquiring an additional 321 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Tesla by 1.2% in the second quarter. Arizona State Retirement System now owns 830,961 shares of the electric vehicle maker’s stock worth $164,431,000 after acquiring an additional 9,941 shares during the period. Childress Capital Advisors LLC raised its position in shares of Tesla by 13.5% during the second quarter. Childress Capital Advisors LLC now owns 6,922 shares of the electric vehicle maker’s stock worth $1,370,000 after acquiring an additional 825 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Tesla by 0.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,984,019 shares of the electric vehicle maker’s stock valued at $392,598,000 after acquiring an additional 8,296 shares during the period. 66.20% of the shares are owned by hedge funds and other institutional investors.

Insider buying and selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. 25.10% of shares are owned by insiders.

Changes in Analyst Ratings

A number of brokerages have issued reports on TSLA. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the company. Royal Bank of Canada cut their price target on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Truist Financial restated a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Goldman Sachs Group cut their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, HSBC upped their target price on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $204.21, according to MarketBeat.

Get the latest stock analysis on TSLA

Tesla trading down 8.4%

NASDAQ TSLA opened at $210.73 on Friday. The stock has a market cap of $673.21 billion, a PE ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The company’s 50-day moving average price is $224.47 and its 200-day moving average price is $193.60. 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 – Get Your Free Report ) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle maker reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% year-over-year. In the same period last year, the firm earned $0.78 per share. Equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Tesla profile

(Free report)

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 Power Generation and Storage. The Auto segment offers electric vehicles as well as sells auto regulatory credits; and non-warranty aftermarket vehicles, used vehicles, body and parts, supercharging, retail merchandise and vehicle insurance services.

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