Cooper Financial Group Has $8.63 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Cooper Financial Group lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,295 shares of the electric vehicle producer's stock after selling 7,209 shares during the quarter. Tesla accounts for approximately 1.1% of Cooper Financial Group's investment portfolio, making the stock its 17th biggest holding. Cooper Financial Group's holdings in Tesla were worth $8,629,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Rinkey Investments raised its holdings in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC grew its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Aldebaran Financial Inc. grew its position in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC grew its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares in the last quarter. Finally, Solutions 4 Wealth Ltd grew its position in Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on TSLA. The Goldman Sachs Group lowered their price target on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Roth Mkm decreased their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Finally, Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

NASDAQ:TSLA opened at $329.61 on Friday. The firm's fifty day moving average price is $318.68 and its 200 day moving average price is $307.45. Tesla, Inc. has a 1-year low of $194.67 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.53, a price-to-earnings-growth ratio of 11.58 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 602,724 shares of company stock worth $214,176,831. Company insiders own 20.70% of the company's stock.

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.

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