CRA Financial Services LLC Has $1.88 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

CRA Financial Services LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.8% during the third quarter, Holdings Channel reports. The institutional investor owned 7,188 shares of the electric vehicle producer’s stock after selling 521 shares during the period. CRA Financial Services LLC’s holdings in Tesla were worth $1,881,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc lifted its holdings in shares of Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after acquiring an additional 3,462 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after acquiring an additional 1,943 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of Tesla during the 1st quarter worth approximately $1,941,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 8.8 %

Shares of TSLA traded down $20.97 during trading hours on Friday, reaching $217.80. 142,628,874 shares of the stock traded hands, compared to its average volume of 95,239,352. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $225.43 and a 200 day simple moving average of $203.61. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a market cap of $695.79 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 6.54 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Piper Sandler increased their price objective on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday. TD Cowen increased their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Mizuho increased their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $210.72.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,661 shares of company stock worth $16,663,291. Insiders own 20.70% of the company’s stock.

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.