Meyer Handelman Co. Sells 3,370 Shares of Tesla, Inc. (NASDAQ:TSLA)

Meyer Handelman Co. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 70.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,410 shares of the electric vehicle producer’s stock after selling 3,370 shares during the quarter. Meyer Handelman Co.’s holdings in Tesla were worth $279,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Lam Group Inc. bought a new position in shares of Tesla in the 4th quarter valued at about $25,000. Bank & Trust Co bought a new stake in Tesla during the second quarter worth about $25,000. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the fourth quarter valued at approximately $37,000. Aspect Partners LLC grew its stake in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 114 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. increased its position in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. KGI Securities reissued a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Argus restated a “buy” rating and set a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Citigroup cut their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $204.21.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Trading Down 0.8 %

TSLA stock traded down $1.68 during midday trading on Wednesday, hitting $206.15. The stock had a trading volume of 2,839,862 shares, compared to its average volume of 99,015,930. The business has a fifty day moving average price of $213.12 and a two-hundred day moving average price of $190.56. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $657.45 billion, a P/E ratio of 53.02, a price-to-earnings-growth ratio of 5.17 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

About Tesla

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.