Kagan Cocozza Asset Management Takes $271,000 Position in Tesla, Inc. $TSLA

Key Points

• Kagan Cocozza Asset Management has taken a new position in Tesla, Inc., acquiring 854 shares worth approximately $271,000 during the second quarter.
• Insiders have recently sold significant amounts of Tesla stock, including Director James R. Murdoch who sold 60,000 shares for over $25 million, representing an 8.61% decrease in his position.
• Tesla missed earnings expectations in its most recent quarterly report, with an EPS of $0.40 compared to the consensus estimate of $0.43, leading to a year-over-year revenue decline of 11.8%.

Kagan Cocozza Asset Management acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 854 shares of the electric vehicle producer's stock, valued at approximately $271,000.

Other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank raised its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC boosted its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. increased its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Down 1.9%

Tesla stock opened at $425.85 on Wednesday. The stock has a market cap of $1.42 trillion, a PE ratio of 246.16, a P/E/G ratio of 15.15 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock's fifty day moving average is $345.33 and its two-hundred day moving average is $310.67. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

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 (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, CICC Research increased their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $326.74.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.