Greenfield Savings Bank Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Greenfield Savings Bank lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 107.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,293 shares of the electric vehicle producer’s stock after purchasing an additional 1,186 shares during the period. Greenfield Savings Bank’s holdings in Tesla were worth $600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Enterprise Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter valued at about $358,000. Capital Market Strategies LLC purchased a new stake in Tesla during the 2nd quarter valued at about $251,000. Avondale Wealth Management grew its stake in Tesla by 39.1% during the 2nd quarter. Avondale Wealth Management now owns 1,920 shares of the electric vehicle producer’s stock valued at $503,000 after acquiring an additional 540 shares in the last quarter. Boltwood Capital Management grew its stake in Tesla by 7.0% during the 2nd quarter. Boltwood Capital Management now owns 1,525 shares of the electric vehicle producer’s stock valued at $399,000 after acquiring an additional 100 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its stake in Tesla by 35.8% during the 2nd quarter. Prentice Wealth Management LLC now owns 1,701 shares of the electric vehicle producer’s stock valued at $445,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the transaction, the chief financial officer now directly owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the transaction, the chief financial officer now directly owns 197,540 shares of the company’s stock, valued at approximately $55,054,398. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total transaction of $265,845.30. Following the transaction, the senior vice president now directly owns 59,540 shares in the company, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock valued at $14,384,135 in the last ninety days. Insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of Tesla from $248.00 to $275.00 and gave the company a “neutral” rating in a research note on Monday, July 3rd. Robert W. Baird boosted their target price on shares of Tesla from $252.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, July 17th. StockNews.com initiated coverage on shares of Tesla in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Mizuho boosted their target price on shares of Tesla from $300.00 to $330.00 in a report on Thursday, July 20th. Finally, TD Cowen upped their price objective on shares of Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, July 20th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $239.43.

Tesla Trading Down 0.6 %

Shares of NASDAQ:TSLA opened at $274.39 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $255.83 and its two-hundred day moving average is $220.11. The company has a market cap of $870.91 billion, a PE ratio of 77.73, a P/E/G ratio of 4.30 and a beta of 2.09. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The firm had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company’s revenue was up 47.2% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. Equities analysts predict that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.

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. It 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, retail merchandise, and vehicle insurance services.