Cravens & Co Advisors LLC Sells 413 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cravens & Co Advisors LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,142 shares of the electric vehicle producer’s stock after selling 413 shares during the period. Tesla comprises 1.0% of Cravens & Co Advisors LLC’s holdings, making the stock its 17th largest holding. Cravens & Co Advisors LLC’s holdings in Tesla were worth $1,345,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Glenmede Trust Co. NA raised its holdings in Tesla by 34.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer’s stock valued at $13,317,000 after acquiring an additional 12,955 shares in the last quarter. Insight Wealth Partners LLC grew its stake in Tesla by 4.9% during the third quarter. Insight Wealth Partners LLC now owns 1,441 shares of the electric vehicle producer’s stock worth $377,000 after buying an additional 67 shares in the last quarter. Principal Street Partners LLC raised its position in shares of Tesla by 100.7% in the 3rd quarter. Principal Street Partners LLC now owns 9,028 shares of the electric vehicle producer’s stock valued at $2,362,000 after buying an additional 4,529 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Tesla by 50.1% during the 3rd quarter. Brooklyn Investment Group now owns 16,096 shares of the electric vehicle producer’s stock worth $4,211,000 after acquiring an additional 5,375 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $687,000. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TSLA shares. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Wedbush restated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Stifel Nicolaus lifted their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, October 25th. UBS Group lifted their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $231.06.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.1 %

NASDAQ TSLA opened at $338.23 on Wednesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93. The business has a 50 day moving average price of $268.52 and a 200-day moving average price of $229.16. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.67, a P/E/G ratio of 11.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal 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.