Cwm LLC Has $111.75 Million Position in Tesla, Inc. $TSLA

Key Points

• Cwm LLC increased its position in Tesla by 3.3%, owning 351,786 shares valued at approximately $111.75 million as of its latest SEC filing.
• Institutional ownership of Tesla is high, with 66.20% of shares held by institutional investors and hedge funds, including significant increases in holdings by firms like Goldman Sachs and Kingstone Capital.
• Analysts have set new price targets for Tesla, with Mizuho raising their target to $450 and Robert W. Baird to $548, while the stock has an average rating of "Hold" and a target of $363.03.

Cwm LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 351,786 shares of the electric vehicle producer's stock after buying an additional 11,398 shares during the period. Cwm LLC's holdings in Tesla were worth $111,748,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TSLA. 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 valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla in the first quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi raised 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 purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. raised 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 purchasing an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TSLA shares. China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Mizuho increased their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Canaccord Genuity Group increased their price objective on shares of Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Finally, CICC Research increased their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $363.03.

Tesla Stock Up 5.4%

Tesla stock opened at $435.90 on Tuesday. The company has a market cap of $1.45 trillion, a P/E ratio of 251.97, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a fifty day simple moving average of $378.50 and a 200 day simple moving average of $329.48. 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 (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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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