Crown Wealth Group LLC Sells 788 Shares of Tesla, Inc. $TSLA

Key Points

• Crown Wealth Group LLC has reduced its stake in Tesla, Inc. by 17.1%, selling 788 shares to hold a total of 3,811 shares, valued at approximately $1,211,000.
• Recent analyst ratings show a range of opinions on Tesla stock, with two analysts giving a Strong Buy rating while others maintain Sell and Hold ratings, resulting in an average target price of $332.33.
• In the last ninety days, Tesla insiders have sold 208,606 shares valued at around $77.36 million, indicating a notable decrease in their personal holdings.

Crown Wealth Group LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,811 shares of the electric vehicle producer's stock after selling 788 shares during the quarter. Crown Wealth Group LLC's holdings in Tesla were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TSLA. Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC lifted its holdings in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Park National Corp OH lifted its holdings in shares of Tesla by 5.7% in the 1st quarter. Park National Corp OH now owns 2,086 shares of the electric vehicle producer's stock worth $541,000 after acquiring an additional 113 shares during the last quarter. Finally, Hiley Hunt Wealth Management bought a new stake in shares of Tesla in the 1st quarter worth approximately $243,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TSLA shares. Guggenheim restated a "sell" rating and issued a $175.00 price objective 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 upped their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. The Goldman Sachs Group upped their price target on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Baird R W upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Finally, UBS Group reiterated a "sell" rating on shares of Tesla in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $332.33.

Tesla Stock Up 4.0%

Shares of Tesla stock opened at $440.40 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company's fifty day simple moving average is $352.05 and its two-hundred day simple moving average is $314.42. The company has a market cap of $1.46 trillion, a P/E ratio of 254.57, a PEG ratio of 14.77 and a beta of 2.06. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

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). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is currently owned by company insiders.

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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