Greenleaf Trust Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Greenleaf Trust lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,624 shares of the electric vehicle producer's stock after selling 4,127 shares during the period. Greenleaf Trust's holdings in Tesla were worth $13,897,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank boosted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. True Wealth Design LLC raised its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Finally, Centennial Bank AR boosted its holdings in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 0.6%

Tesla stock traded down $1.93 during trading hours on Wednesday, hitting $295.88. The company had a trading volume of 75,143,508 shares, compared to its average volume of 100,727,452. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The firm has a market cap of $953.02 billion, a P/E ratio of 162.57, a P/E/G ratio of 8.57 and a beta of 2.39. The company has a 50-day moving average price of $321.21 and a two-hundred day moving average price of $323.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the business posted $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSLA. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Royal Bank Of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Guggenheim reiterated a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Tuesday. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $301.13.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 829,509 shares of company stock worth $277,648,925. 20.70% of the stock is currently owned by company insiders.

Tesla 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.