Greenleaf Trust Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Greenleaf Trust reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,624 shares of the electric vehicle producer's stock after selling 4,127 shares during the quarter. Greenleaf Trust's holdings in Tesla were worth $13,897,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TSLA. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. boosted its holdings in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla during the 4th quarter valued at about $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Raymond James Financial lowered Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Cantor Fitzgerald reduced their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $300.19.

Tesla Price Performance

Shares of Tesla stock traded up $3.64 during mid-day trading on Friday, reaching $313.51. 78,861,329 shares of the stock traded hands, compared to its average volume of 99,596,575. The business has a 50-day moving average of $322.60 and a 200 day moving average of $320.26. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a PEG ratio of 9.33 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the company earned $0.45 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.