Greystone Financial Group LLC Buys 2,993 Shares of Tesla, Inc. (NASDAQ:TSLA)

Greystone Financial Group LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 131.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,265 shares of the electric vehicle producer’s stock after acquiring an additional 2,993 shares during the quarter. Greystone Financial Group LLC’s holdings in Tesla were worth $1,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter valued at $25,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the fourth quarter worth about $37,000. Kessler Investment Group LLC increased its stake in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares in the last quarter. Aspect Partners LLC lifted its holdings in shares of Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 114 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Tesla in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 8.4 %

Shares of NASDAQ:TSLA traded down $19.44 during trading hours on Friday, hitting $210.73. 111,432,758 shares of the company’s stock traded hands, compared to its average volume of 68,186,248. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a fifty day moving average price of $224.47 and a 200-day moving average price of $193.60. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The firm has a market capitalization of $673.21 billion, a P/E ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29.

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 the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. Equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Tuesday. Citigroup reduced their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Royal Bank of Canada cut their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $204.21.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 25.10% of the stock is currently owned by company 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.