Cim LLC Has $321,000 Stock Holdings in Tesla, Inc. $TSLA

Cim LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,239 shares of the electric vehicle producer’s stock after selling 133 shares during the period. Cim LLC’s holdings in Tesla were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Osterweis Capital Management Inc. grew its stake in Tesla by 57.0% during the first quarter. Osterweis Capital Management Inc. now owns 785 shares of the electric vehicle producer’s stock worth $203,000 after purchasing an additional 285 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in Tesla by 147.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 1,024 shares of the electric vehicle producer’s stock worth $265,000 after purchasing an additional 610 shares during the period. Hodges Capital Management Inc. grew its stake in Tesla by 58.8% during the first quarter. Hodges Capital Management Inc. now owns 3,178 shares of the electric vehicle producer’s stock worth $824,000 after purchasing an additional 1,177 shares during the period. Integrity Wealth Advisors Inc. grew its stake in Tesla by 37.0% during the first quarter. Integrity Wealth Advisors Inc. now owns 2,802 shares of the electric vehicle producer’s stock worth $726,000 after purchasing an additional 757 shares during the period. Finally, Modern Wealth Management LLC grew its stake in Tesla by 58.6% during the first quarter. Modern Wealth Management LLC now owns 15,043 shares of the electric vehicle producer’s stock worth $3,898,000 after purchasing an additional 5,557 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. China Renaissance reissued a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Glj Research reissued a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $303.00.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% 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 Tesla stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,606 shares of company stock worth $44,724,662. 20.70% of the stock is owned by insiders.

Tesla Stock Up 6.0%

Shares of NASDAQ:TSLA opened at $368.81 on Friday. The stock has a market cap of $1.19 trillion, a price-to-earnings ratio of 213.18, a PEG ratio of 12.13 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The business’s 50 day moving average is $327.25 and its 200 day moving average is $302.84.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.