Crawford Fund Management LLC Reduces Tesla Holdings by 82.1%

Crawford Fund Management LLC has significantly decreased its investment in Tesla, Inc. (NASDAQ:TSLA) by 82.1% in the third quarter, as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 13,800 shares, the firm now holds 3,000 shares of Tesla. The total value of these holdings is approximately $785,000 at the close of the recent quarter.

Changes by Other Investors

In addition to Crawford Fund Management's actions, several other institutional investors have also made adjustments to their stakes in Tesla. For instance, Connable Office Inc. slightly increased its holdings by 0.3%, bringing its total to 12,872 shares valued at $3,368,000 after acquiring an additional 38 shares in the last quarter. Similarly, Holistic Financial Partners raised its stake by 1.0%, now owning 4,055 shares worth $1,061,000 after adding 40 shares. Integris Wealth Management LLC and Sherrill & Hutchins Financial Advisory Inc. also reported minor increases in their holdings.

Altman Advisors Inc. increased its stake by 0.4%, owning 10,754 shares valued at $2,814,000, following a purchase of 43 shares. Collectively, institutional investors and hedge funds now hold 66.20% of Tesla's total shares.

Insider Sales at Tesla

In recent insider activity, Tesla's Chief Financial Officer, Vaibhav Taneja, sold 8,000 shares of the company's stock on September 23rd for approximately $2,000,000 at an average price of $250 per share. Post-sale, Taneja retains 105,032 shares worth about $26,258,000, reflecting a 7.08% reduction in his ownership. This transaction was made public in an SEC filing. Additionally, Senior Vice President Xiaotong Zhu sold 297 shares on September 6th for a total of $65,865.69 at an average price of $221.77. Post-sale, Zhu holds 67,491 shares valued at around $14,967,479. Insiders have collectively sold 301,187 shares worth nearly $92.96 million in the preceding three months, with company insiders owning 20.70% of Tesla's shares.

Analyst Opinions on Tesla Stock

Equity research analysts have recently provided varying ratings on Tesla stock. Guggenheim increased its target price from $153.00 to $156.00, issuing a "sell" rating. Cantor Fitzgerald maintained a "neutral" rating, setting a target of $245.00. Needham & Company LLC reiterated a "hold" rating, while HSBC provided a "reduce" rating with a target price of $124.00. Stifel Nicolaus raised its target from $265.00 to $287.00, assigning a "buy" rating. Overall, nine analysts recommend selling, seventeen suggest holding, and fourteen propose buying Tesla stock, leading to a consensus rating of "Hold" with an average target price of $231.06 according to MarketBeat data.

Current Tesla Stock Performance

As of the last trading session, TSLA shares opened at $332.89. Tesla's stock has seen a 12-month low of $138.80 and a high of $361.93. The company boasts a quick ratio of 1.37, a current ratio of 1.84, and a low debt-to-equity ratio of 0.08, along with a market capitalization of $1.07 trillion. The price-to-earnings (P/E) ratio stands at 91.20, while the price-to-earnings-growth ratio is 10.81, and the stock has a beta of 2.29. The recent 50-day and 200-day moving averages for Tesla stock are $272.41 and $230.60, respectively. In its latest earnings report on October 23rd, Tesla reported earnings of $0.72 per share, exceeding analysts' expectations of $0.58. Revenue came in at $25.18 billion, slightly below the consensus estimate of $25.47 billion, marking a year-over-year revenue increase of 7.8%.

About Tesla, Inc.

Tesla, Inc. designs, develops, and manufactures electric vehicles as well as energy generation and storage systems globally. The company operates through two key segments: Automotive and Energy Generation and Storage. The Automotive segment includes electric vehicle production and sales, regulatory credit sales, and various after-sales services, including vehicle insurance.

Crawford, Management, Tesla