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

Cravens & Co Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.4% in the third quarter, Holdings Channel reports. The fund owned 5,142 shares of the electric vehicle producer’s stock after selling 413 shares during the quarter. Tesla accounts for about 1.0% of Cravens & Co Advisors LLC’s portfolio, making the stock its 17th largest position. Cravens & Co Advisors LLC’s holdings in Tesla were worth $1,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter worth about $29,000. Finally, Clean Yield Group lifted its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Jefferies Financial Group raised their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Nine 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $231.06.

Tesla Stock Performance

Tesla stock opened at $338.23 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The firm has a market cap of $1.09 trillion, a P/E ratio of 92.67, a P/E/G ratio of 11.00 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $268.52 and a 200-day moving average of $229.16.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In other news, 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 transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,187 shares of company stock worth $92,956,692. Corporate insiders own 20.70% of the company’s stock.

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.