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

Greenleaf Trust lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,877 shares of the electric vehicle producer’s stock after selling 1,442 shares during the quarter. Greenleaf Trust’s holdings in Tesla were worth $13,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after acquiring an additional 3,453,078 shares in the last quarter. State Street Corp increased its holdings in shares of Tesla by 0.7% during the first quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after acquiring an additional 685,454 shares in the last quarter. Morgan Stanley increased its holdings in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. FMR LLC increased its holdings in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after acquiring an additional 269,182 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at $3,459,540,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Truist Financial reduced their price objective on Tesla from $193.00 to $176.00 and set a “hold” rating for the company in a report on Wednesday, April 3rd. Mizuho reiterated a “neutral” rating and issued a $195.00 price objective (down from $270.00) on shares of Tesla in a report on Monday, March 25th. The Goldman Sachs Group reduced their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Finally, Barclays reduced their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday. Ten analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $194.70.

Tesla Price Performance

NASDAQ TSLA traded down $2.88 during trading hours on Friday, reaching $147.05. The company’s stock had a trading volume of 86,914,652 shares, compared to its average volume of 101,650,617. The firm’s 50-day moving average price is $179.45 and its 200-day moving average price is $212.21. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 1 year low of $146.22 and a 1 year high of $299.29. The company has a market capitalization of $468.32 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 4.11 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last quarter. 25.10% of the stock is currently owned by insiders.

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.