Greenspring Advisors LLC Acquires New Stake in Tesla, Inc. (NASDAQ:TSLA)

Greenspring Advisors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 630 shares of the electric vehicle producer’s stock, valued at approximately $254,000.

A number of other large investors have also added to or reduced their stakes in the company. Retirement Planning Group LLC increased its holdings in shares of Tesla by 16.1% in the third quarter. Retirement Planning Group LLC now owns 1,392 shares of the electric vehicle producer’s stock worth $364,000 after buying an additional 193 shares during the period. Carnegie Investment Counsel boosted its position in Tesla by 29.6% during the 3rd quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock valued at $1,735,000 after acquiring an additional 1,515 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in Tesla by 37.6% during the 3rd quarter. CHICAGO TRUST Co NA now owns 2,197 shares of the electric vehicle producer’s stock valued at $575,000 after acquiring an additional 600 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Tesla during the 3rd quarter valued at approximately $209,000. Finally, VitalStone Financial LLC boosted its position in Tesla by 52.3% during the 3rd quarter. VitalStone Financial LLC now owns 3,095 shares of the electric vehicle producer’s stock valued at $810,000 after acquiring an additional 1,063 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Morgan Stanley raised their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Truist Financial raised their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $321.71.

Tesla Stock Performance

Shares of TSLA opened at $350.73 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.13 trillion, a P/E ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. The company has a 50-day moving average of $408.27 and a two-hundred day moving average of $304.55. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts predict that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 635,776 shares of company stock worth $231,335,112 over the last ninety days. 20.70% of the stock is owned by company 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.