Creekmur Asset Management LLC Has $1.69 Million Position in Tesla, Inc. $TSLA

Creekmur Asset Management LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 66.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,318 shares of the electric vehicle producer’s stock after purchasing an additional 2,115 shares during the period. Creekmur Asset Management LLC’s holdings in Tesla were worth $1,689,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSLA. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla during the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its stake in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares during the period. Amundi boosted its stake in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were 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 in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Down 4.6%

Tesla stock opened at $440.10 on Friday. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 293.40, a P/E/G ratio of 16.84 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a fifty day moving average price of $408.19 and a two-hundred day moving average price of $346.05.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. BNP Paribas Exane initiated coverage on shares of Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective for the company. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Wednesday, October 8th. New Street Research lifted their price objective on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, China Renaissance lifted their price objective on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $388.51.

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.