Amica Mutual Insurance Co. Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Amica Mutual Insurance Co. lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,834 shares of the electric vehicle producer’s stock after selling 8,707 shares during the period. Amica Mutual Insurance Co.’s holdings in Tesla were worth $4,321,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. Apexium Financial LP raised its holdings in shares of Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after buying an additional 21,972 shares during the last quarter. Forum Financial Management LP lifted its position in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after acquiring an additional 3,582 shares during the period. Catalyst Financial Partners LLC grew its stake in shares of Tesla by 9.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 shares during the last quarter. Atalanta Sosnoff Capital LLC increased its holdings in shares of Tesla by 3.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. 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. Citigroup reduced their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Canaccord Genuity Group boosted their target price on Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, July 24th. Finally, Guggenheim restated a “sell” rating and issued a $134.00 price target on shares of Tesla in a research note on Tuesday, July 23rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $204.21.

Tesla Trading Down 3.2 %

TSLA traded down $7.11 during midday trading on Monday, hitting $213.21. The company’s stock had a trading volume of 59,164,801 shares, compared to its average volume of 98,373,750. The firm has a market cap of $681.13 billion, a P/E ratio of 54.16, a PEG ratio of 5.46 and a beta of 2.31. Tesla, Inc. has a 52-week low of $138.80 and a 52-week 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 50-day moving average price of $219.46 and a two-hundred day moving average price of $192.17.

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

Insider Buying and Selling

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

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.