Greenbush Financial Group LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Greenbush Financial Group LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,658 shares of the electric vehicle producer’s stock after selling 2,669 shares during the quarter. Tesla comprises approximately 1.2% of Greenbush Financial Group LLC’s portfolio, making the stock its 21st biggest position. Greenbush Financial Group LLC’s holdings in Tesla were worth $2,503,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. San Luis Wealth Advisors LLC raised its holdings in Tesla by 4.5% in the 1st quarter. San Luis Wealth Advisors LLC now owns 12,324 shares of the electric vehicle producer’s stock worth $3,194,000 after purchasing an additional 526 shares in the last quarter. Bell Bank raised its stake in Tesla by 9.2% in the first quarter. Bell Bank now owns 14,956 shares of the electric vehicle producer’s stock worth $3,876,000 after buying an additional 1,263 shares in the last quarter. PKO Investment Management Joint Stock Co lifted its holdings in Tesla by 117.5% in the first quarter. PKO Investment Management Joint Stock Co now owns 58,300 shares of the electric vehicle producer’s stock worth $15,109,000 after buying an additional 31,500 shares during the period. Insigneo Advisory Services LLC boosted its position in Tesla by 25.1% during the 1st quarter. Insigneo Advisory Services LLC now owns 45,756 shares of the electric vehicle producer’s stock valued at $11,858,000 after acquiring an additional 9,167 shares in the last quarter. Finally, Demars Financial Group LLC purchased a new position in shares of Tesla during the 1st quarter worth approximately $61,988,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSLA. HSBC lowered their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Argus reissued a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Mizuho increased their price target on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $293.67.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.2%

Tesla stock opened at $329.13 on Tuesday. Tesla, Inc. has a one year low of $177.00 and a one year high of $488.54. The stock has a fifty day moving average of $301.53 and a 200 day moving average of $332.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $1.06 trillion, a PE ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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. 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.