Greenup Street Wealth Management LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Greenup Street Wealth Management LLC cut its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,788 shares of the electric vehicle producer's stock after selling 7,377 shares during the period. Tesla accounts for 0.9% of Greenup Street Wealth Management LLC's investment portfolio, making the stock its 23rd largest holding. Greenup Street Wealth Management LLC's holdings in Tesla were worth $4,610,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TSLA. Newton One Investments LLC increased its stake in 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 purchasing an additional 75 shares during the last quarter. True Wealth Design LLC raised its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. Pflug Koory LLC boosted its stake in Tesla by 370.4% in the first quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Finally, GS Investments Inc. grew its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Stock Up 1.8%

Shares of NASDAQ:TSLA opened at $322.05 on Thursday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.04 trillion, a P/E ratio of 176.95, a P/E/G ratio of 11.88 and a beta of 2.47. Tesla, Inc. has a 52-week low of $179.66 and a 52-week high of $488.54. The stock's fifty day simple moving average is $303.42 and its 200-day simple moving average is $332.59.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Glj Research reissued a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. UBS Group lowered their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Piper Sandler reiterated an "overweight" rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $293.67.

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.

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