Greenleaf Trust Purchases 6,610 Shares of Tesla, Inc. (NASDAQ:TSLA)

Greenleaf Trust raised its position in Tesla, Inc. (NASDAQ:TSLA) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,602 shares of the electric vehicle producer’s stock after purchasing an additional 6,610 shares during the period. Greenleaf Trust’s holdings in Tesla were worth $13,762,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. HSBC reiterated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, July 5th. Nine 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $211.63.

Tesla Price Performance

Shares of TSLA stock traded down $0.49 during trading on Wednesday, hitting $217.48. The company had a trading volume of 6,600,529 shares, compared to its average volume of 93,459,523. The firm has a market capitalization of $693.59 billion, a P/E ratio of 55.60, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. 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. The stock’s 50-day moving average price is $228.30 and its 200 day moving average price is $206.36.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share 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 company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last quarter. 25.10% of the stock is owned by corporate insiders.

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.