Tesla, Inc. $TSLA Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,607 shares of the electric vehicle producer’s stock after selling 505 shares during the quarter. Tesla accounts for approximately 0.7% of Crossmark Global Holdings Inc.’s holdings, making the stock its 20th largest position. Crossmark Global Holdings Inc.’s holdings in Tesla were worth $41,806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Chelsea Counsel Co. increased its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC bought a new position in shares of Tesla in the second quarter valued at approximately $29,000. Evergreen Private Wealth LLC increased its stake in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the period. Glynn Capital Management LLC bought a new stake in Tesla during the second quarter worth approximately $35,000. Finally, Pacific Center for Financial Services lifted its position in Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after purchasing an additional 46 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value 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 represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Cantor Fitzgerald set a $510.00 price target on Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Canaccord Genuity Group decreased their target price on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Bank of America boosted their price target on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada restated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. Finally, President Capital lifted their price objective on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $393.61.

Tesla Price Performance

NASDAQ TSLA opened at $404.35 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The stock’s 50-day moving average price is $429.67 and its two-hundred day moving average price is $360.78. The company has a market cap of $1.34 trillion, a PE ratio of 269.57, a PEG ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 2.56 EPS 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.