Clare Market Investments LLC Sells 2,499 Shares of Tesla, Inc. $TSLA

Clare Market Investments LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,168 shares of the electric vehicle producer's stock after selling 2,499 shares during the quarter. Clare Market Investments LLC's holdings in Tesla were worth $1,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank lifted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.2%

Shares of TSLA stock opened at $426.07 on Friday. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 246.28, a PEG ratio of 14.54 and a beta of 2.06. The stock has a 50-day moving average of $340.68 and a 200-day moving average of $308.15. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last 90 days. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Morgan Stanley restated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Canaccord Genuity Group increased their target price on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Mizuho dropped their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Wedbush reiterated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a research report on Monday, September 15th. Finally, The Goldman Sachs Group increased their target price on Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $317.70.

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.

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