Crossmark Global Holdings Inc. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Crossmark Global Holdings Inc. decreased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,112 shares of the electric vehicle producer's stock after selling 6,768 shares during the period. Tesla accounts for 0.6% of Crossmark Global Holdings Inc.'s investment portfolio, making the stock its 25th largest holding. Crossmark Global Holdings Inc.'s holdings in Tesla were worth $34,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its stake in 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 purchasing an additional 44 shares during the period. First PREMIER Bank lifted its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC lifted its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. Finally, Centennial Bank AR lifted its stake in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 829,509 shares of company stock valued at $277,648,925. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Robert W. Baird restated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $301.60.

Tesla Trading Down 0.7%

Shares of TSLA stock opened at $313.56 on Monday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average price is $320.93 and its two-hundred day moving average price is $324.35. The stock has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the firm posted $0.45 EPS. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.

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