Cresset Asset Management LLC Sells 19,758 Shares of Tesla, Inc. $TSLA

Cresset Asset Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 200,855 shares of the electric vehicle producer’s stock after selling 19,758 shares during the quarter. Cresset Asset Management LLC’s holdings in Tesla were worth $63,804,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after acquiring an additional 1,269,304 shares during the last quarter. Norges Bank purchased a new position in Tesla in the second quarter worth about $11,839,824,000. Legal & General Group Plc raised its position in Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after purchasing an additional 1,134,678 shares during the period. Finally, Amundi lifted its stake in shares of Tesla by 20.4% in the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after purchasing an additional 3,422,270 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $454.53 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market capitalization of $1.51 trillion, a PE ratio of 303.02, a P/E/G ratio of 15.09 and a beta of 1.87. The company has a 50 day moving average price of $434.64 and a 200-day moving average price of $371.63. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group restated a “sell” rating on shares of Tesla in a report on Friday, November 7th. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, New Street Research raised their price objective on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $398.92.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 82,606 shares of company stock worth $33,554,102. Company insiders own 19.90% of the company’s stock.

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.