Horizon Investment Services LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Horizon Investment Services LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,034 shares of the electric vehicle producer’s stock after selling 55 shares during the quarter. Horizon Investment Services LLC’s holdings in Tesla were worth $600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the fourth quarter worth approximately $37,000. Kessler Investment Group LLC lifted its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares in the last quarter. Aspect Partners LLC lifted its position in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Tesla during the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on TSLA shares. Royal Bank of Canada reduced their price objective on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research report on Friday, July 5th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Finally, TD Cowen lifted their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Nine analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $204.21.

Tesla Stock Up 4.9 %

TSLA opened at $230.17 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a 50 day simple moving average of $224.21 and a 200-day simple moving average of $193.52. The stock has a market capitalization of $735.31 billion, a P/E ratio of 58.72, a P/E/G ratio of 5.55 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.79 earnings per share 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.