Crawford Fund Management LLC Sells 13,800 Shares of Tesla, Inc. (NASDAQ:TSLA)

Crawford Fund Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 82.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,000 shares of the electric vehicle producer’s stock after selling 13,800 shares during the quarter. Crawford Fund Management LLC’s holdings in Tesla were worth $785,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Suvretta Capital Management LLC boosted its stake in Tesla by 43.7% in the third quarter. Suvretta Capital Management LLC now owns 193,842 shares of the electric vehicle producer’s stock worth $50,715,000 after purchasing an additional 58,929 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Tesla by 9.6% in the third quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 721 shares in the last quarter. Vinva Investment Management Ltd boosted its stake in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. Elite Wealth Management Inc. boosted its stake in Tesla by 4.9% in the third quarter. Elite Wealth Management Inc. now owns 3,809 shares of the electric vehicle producer’s stock worth $997,000 after purchasing an additional 178 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. 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. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA opened at $332.89 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.93. The stock has a market cap of $1.07 trillion, a price-to-earnings ratio of 91.20, a PEG ratio of 10.81 and a beta of 2.29. The business has a 50 day moving average of $272.41 and a 200-day moving average of $230.60. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released 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 return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the firm posted $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSLA shares. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Wolfe Research started coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. The Goldman Sachs Group upped their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus upped their price target on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $231.06.

Tesla Company 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.