Tesla, Inc. (NASDAQ:TSLA) Stock Position Lifted by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,720 shares of the electric vehicle producer’s stock after acquiring an additional 145 shares during the period. Greenwich Wealth Management LLC’s holdings in Tesla were worth $538,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC raised its stake in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. Vanguard Group Inc. grew its stake in Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after buying an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Tesla by 60.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after acquiring an additional 1,072,366 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. HSBC increased their price target on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday, September 5th. Truist Financial reiterated a “hold” rating and issued a $215.00 price target on shares of Tesla in a research report on Wednesday, August 14th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $254.00 price objective on shares of Tesla in a research report on Friday. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $209.60.

Tesla Stock Up 0.2 %

Shares of TSLA stock opened at $230.29 on Monday. The firm has a market cap of $734.44 billion, a PE ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The stock has a 50 day moving average of $223.37 and a 200-day moving average of $194.57. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

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.