Cromwell Holdings LLC Purchases 2,483 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cromwell Holdings LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 50.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,368 shares of the electric vehicle producer’s stock after purchasing an additional 2,483 shares during the quarter. Tesla accounts for approximately 1.2% of Cromwell Holdings LLC’s portfolio, making the stock its 12th largest position. Cromwell Holdings LLC’s holdings in Tesla were worth $1,928,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TSLA. Integris Wealth Management LLC boosted its position in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC grew its stake in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co boosted its holdings in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the period. Finally, Bellevue Asset Management LLC boosted its holdings in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after acquiring an additional 45 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday. Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, October 17th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday. Bank of America boosted their target price on Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $219.00.

Tesla Trading Up 3.3 %

Shares of TSLA stock opened at $269.19 on Friday. The company has a market cap of $858.50 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The stock’s 50 day simple moving average is $229.47 and its two-hundred day simple moving average is $206.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

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.