Graypoint LLC Acquires 2,129 Shares of Tesla, Inc. (NASDAQ:TSLA)

Graypoint LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,087 shares of the electric vehicle producer’s stock after purchasing an additional 2,129 shares during the quarter. Graypoint LLC’s holdings in Tesla were worth $7,708,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Connable Office Inc. lifted its position in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the period. Community Bank N.A. boosted its holdings in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners increased its holdings in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the period. Finally, Altman Advisors Inc. grew its position in shares of Tesla by 0.4% during the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after acquiring an additional 43 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 0.1 %

TSLA stock traded down $0.20 during midday trading on Friday, hitting $394.74. 62,017,272 shares of the company’s stock were exchanged, compared to its average volume of 83,472,883. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business has a 50-day simple moving average of $373.68 and a two-hundred day simple moving average of $279.12. The stock has a market capitalization of $1.27 trillion, a PE ratio of 108.15, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the firm earned $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. Barclays lifted their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and upped their target price for the stock from $400.00 to $490.00 in a report on Tuesday. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada raised their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $295.69.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 621,886 shares of company stock worth $213,451,751 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Company Profile

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.