Greystone Financial Group LLC Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Greystone Financial Group LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 70.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,536 shares of the electric vehicle producer’s stock after selling 3,729 shares during the quarter. Greystone Financial Group LLC’s holdings in Tesla were worth $402,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TSLA. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group raised its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. raised its stake in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 2.0 %

TSLA opened at $213.65 on Thursday. The stock has a market cap of $682.53 billion, a price-to-earnings ratio of 60.01, a P/E/G ratio of 6.24 and a beta of 2.29. The stock’s 50 day moving average price is $228.54 and its 200-day moving average price is $206.41. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Finally, Piper Sandler lifted their target price on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $216.87.

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.