Crumly & Associates Inc. Grows Stake in Tesla, Inc. $TSLA

Key Points

• Crumly & Associates Inc. increased its stake in Tesla, Inc. by 25.5% during the 2nd quarter, owning a total of 4,497 shares valued at approximately $1.43 million.
• Tesla's recent quarterly earnings revealed an EPS of $0.40, missing analysts' estimates and showing an 11.8% year-over-year revenue decline.
• Institutional investors now hold 66.20% of Tesla's stock, indicating strong institutional interest in the company.

Crumly & Associates Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,497 shares of the electric vehicle producer's stock after buying an additional 913 shares during the quarter. Crumly & Associates Inc.'s holdings in Tesla were worth $1,429,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Acorn Wealth Advisors LLC boosted its holdings in shares of Tesla by 1.9% in the first 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 during the period. Solutions 4 Wealth Ltd boosted its holdings in shares of Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after purchasing an additional 36 shares during the period. Capital Management Associates Inc boosted its holdings in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after purchasing an additional 38 shares during the period. Graney & King LLC boosted its holdings in shares of Tesla by 18.4% in the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after purchasing an additional 38 shares during the period. Finally, Mraz Amerine & Associates Inc. boosted its holdings in shares of Tesla by 3.8% in the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock valued at $278,000 after purchasing an additional 39 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock opened at $395.94 on Friday. The business's fifty day simple moving average is $328.89 and its 200-day simple moving average is $303.48. The company has a market cap of $1.28 trillion, a PE ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06. 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.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results 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 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%.The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on 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 transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,606 shares of company stock valued at $51,999,662. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Mizuho lowered their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Canaccord Genuity Group upped their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and set a $410.00 target price on shares of Tesla in a report on Friday, September 5th. Finally, UBS Group set a $290.00 target price on Tesla in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $303.00.

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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