Howland Capital Management LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Howland Capital Management LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the first quarter, HoldingsChannel reports. The firm owned 3,535 shares of the electric vehicle producer’s stock after selling 136 shares during the quarter. Howland Capital Management LLC’s holdings in Tesla were worth $621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Daymark Wealth Partners LLC grew its holdings in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after buying an additional 45 shares during the period. Patten & Patten Inc. TN grew its holdings in Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after buying an additional 48 shares during the period. Caerus Investment Advisors LLC grew its holdings in Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after buying an additional 49 shares during the period. Salvus Wealth Management LLC grew its holdings in Tesla by 3.2% in the 4th quarter. Salvus Wealth Management LLC now owns 1,617 shares of the electric vehicle producer’s stock valued at $402,000 after buying an additional 50 shares during the period. Finally, Monte Financial Group LLC grew its holdings in Tesla by 3.4% in the 4th quarter. Monte Financial Group LLC now owns 1,526 shares of the electric vehicle producer’s stock valued at $379,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Guggenheim lifted their price objective on Tesla from $126.00 to $134.00 and gave the company a “sell” rating in a research note on Wednesday, July 3rd. Canaccord Genuity Group lifted their price objective on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Mizuho lifted their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday. Finally, TD Cowen lifted their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $198.61.

Tesla Price Performance

Shares of TSLA opened at $234.39 on Friday. The company has a market cap of $747.52 billion, a P/E ratio of 61.49, a PEG ratio of 6.58 and a beta of 2.31. The stock has a fifty day moving average price of $191.41 and a 200 day moving average price of $191.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. On average, research analysts forecast that Tesla, Inc. will post 1.85 earnings per share for the current year.

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.