Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Grandfield & Dodd LLC

by · The Cerbat Gem

Grandfield & Dodd LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 8.5% in the 1st quarter, Holdings Channel reports. The firm owned 2,633 shares of the electric vehicle producer’s stock after selling 244 shares during the period. Grandfield & Dodd LLC’s holdings in Tesla were worth $682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rinkey Investments raised its holdings in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after acquiring an additional 29 shares during the period. True Wealth Design LLC grew its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. Aldebaran Financial Inc. raised its stake in Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after purchasing an additional 35 shares during the period. Finally, Acorn Wealth Advisors LLC raised its stake in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 36 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 1.9%

TSLA stock opened at $310.78 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a 50-day moving average of $324.04 and a two-hundred day moving average of $318.47. The stock has a market capitalization of $1.00 trillion, a price-to-earnings ratio of 170.76, a price-to-earnings-growth ratio of 9.43 and a beta of 2.39.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 over the last three months. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a research note on Friday, July 11th. William Blair downgraded shares of Tesla from an “outperform” rating to a “market perform” rating in a research note on Monday, July 7th. Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Glj Research reissued a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $300.19.

View Our Latest Stock Analysis on Tesla

Tesla Profile

(Free Report)

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.

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