Cohen Investment Advisors LLC Has $397,000 Stock Holdings in Tesla, Inc. $TSLA

Cohen Investment Advisors LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.8% in the second quarter, HoldingsChannel reports. The firm owned 1,249 shares of the electric vehicle producer’s stock after selling 200 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Tesla were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TSLA. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares during the period. Siren L.L.C. bought a new position in Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC raised its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the period. Keystone Global Partners LLC bought a new position in Tesla in the 1st quarter valued at about $594,000. Finally, Strs Ohio bought a new position in Tesla in the 1st quarter valued at about $205,495,000. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Guggenheim reaffirmed a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. The Goldman Sachs Group raised their target price on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $349.37.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $435.54 on Friday. The company’s 50 day simple moving average is $373.75 and its 200 day simple moving average is $326.64. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

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.