Crew Capital Management Ltd. Reduces Stock Position in Tesla, Inc. $TSLA

Key Points

• Crew Capital Management Ltd. reduced its stock position in Tesla, Inc. by 18.1%, owning 3,184 shares worth approximately $1,011,000 after selling 703 shares in the second quarter.
• Insider transactions included Director James R. Murdoch selling 60,000 shares for $25.36 million and CFO Vaibhav Taneja selling 2,606 shares, indicating a trend of decreasing positions among company insiders.
• Despite recent stock movements, analysts maintain a mixed outlook on Tesla, with two strong buy ratings and 19 buy ratings, reflecting an average price target of $324.53.

Crew Capital Management Ltd. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,184 shares of the electric vehicle producer's stock after selling 703 shares during the period. Crew Capital Management Ltd.'s holdings in Tesla were worth $1,011,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after buying an additional 849,091 shares during the period. Amundi lifted its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Invesco Ltd. lifted its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after buying an additional 2,211,300 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were 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. The trade was a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 in the last 90 days. Company insiders own 19.90% of the company's stock.

Tesla Trading Up 1.9%

NASDAQ:TSLA opened at $434.21 on Tuesday. 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 12 month low of $212.11 and a 12 month high of $488.54. The company has a market cap of $1.44 trillion, a PE ratio of 250.99, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company has a 50 day simple moving average of $343.03 and a two-hundred day simple moving average of $309.87.

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

Wall Street Analyst Weigh In

Several analysts have commented on TSLA shares. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Guggenheim reiterated a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $320.00 to $548.00 in a report on Friday. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Finally, Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $324.53.

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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