Cim Investment Management Inc. Sells 174 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cim Investment Management Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,917 shares of the electric vehicle producer’s stock after selling 174 shares during the quarter. Tesla makes up 0.9% of Cim Investment Management Inc.’s portfolio, making the stock its 16th largest holding. Cim Investment Management Inc.’s holdings in Tesla were worth $2,952,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TSLA. DDFG Inc boosted its stake in Tesla by 7.1% in the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock worth $265,000 after purchasing an additional 71 shares in the last quarter. Vantage Financial Partners LLC lifted its position in Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after buying an additional 346 shares in the last quarter. Gilbert & Cook Inc. grew its holdings in Tesla by 8.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock worth $3,357,000 after acquiring an additional 1,086 shares during the last quarter. 9258 Wealth Management LLC increased its position in Tesla by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after acquiring an additional 69 shares in the last quarter. Finally, Rollins Financial raised its stake in shares of Tesla by 10.2% in the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after acquiring an additional 11,191 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Truist Financial reissued a “hold” rating and issued a $215.00 price target on shares of Tesla in a report on Wednesday, August 14th. The Goldman Sachs Group lowered their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. TD Cowen raised their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Barclays dropped their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Finally, Citigroup reduced their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $209.90.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock worth $16,663,291. Insiders own 25.10% of the company’s stock.

Tesla Trading Up 2.5 %

NASDAQ TSLA opened at $260.46 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock’s 50 day moving average price is $221.47 and its two-hundred day moving average price is $197.95. The stock has a market capitalization of $832.08 billion, a price-to-earnings ratio of 66.44, a PEG ratio of 6.92 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.