CRA Financial Services LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

CRA Financial Services LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 1st quarter, Holdings Channel reports. The firm owned 7,506 shares of the electric vehicle producer’s stock after selling 215 shares during the quarter. CRA Financial Services LLC’s holdings in Tesla were worth $1,945,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Tesla during the 4th quarter valued at $14,420,248,000. FMR LLC grew its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its holdings in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. Wedbush set a $500.00 price objective on shares of Tesla in a research note on Thursday, June 5th. Glj Research reiterated a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Argus reiterated a “hold” rating on shares of Tesla in a research note on Monday, June 9th. The Goldman Sachs Group reduced their price objective on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a research note on Friday, June 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.67.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,564 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the acquisition, the director now directly owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $325.31 on Friday. Tesla, Inc. has a 52 week low of $176.92 and a 52 week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The firm’s 50 day moving average is $299.39 and its two-hundred day moving average is $332.88.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.