Cromwell Holdings LLC Reduces Holdings in Tesla, Inc. $TSLA

Cromwell Holdings LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,943 shares of the electric vehicle producer's stock after selling 861 shares during the period. Tesla comprises approximately 1.3% of Cromwell Holdings LLC's holdings, making the stock its 11th biggest holding. Cromwell Holdings LLC's holdings in Tesla were worth $2,206,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Means Investment CO. Inc. grew its stake in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. grew its stake in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the period. Siren L.L.C. purchased a new stake in Tesla in the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC grew its stake in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after acquiring an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new stake in Tesla in the 1st quarter worth approximately $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. UBS Group reissued a "sell" rating and set a $215.00 price objective on shares of Tesla in a research note on Thursday. Wedbush lifted their target price on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Friday, September 26th. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $343.43.

Tesla Price Performance

TSLA opened at $429.83 on Friday. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company's 50-day moving average price is $364.02 and its 200 day moving average price is $321.99. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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

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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