Greenfield Savings Bank Has $1.37 Million Stock Position in Tesla, Inc. $TSLA

Greenfield Savings Bank lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,316 shares of the electric vehicle producer’s stock after selling 294 shares during the quarter. Greenfield Savings Bank’s holdings in Tesla were worth $1,371,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Nova Wealth Management Inc. raised its position in Tesla by 15.4% during the second quarter. Nova Wealth Management Inc. now owns 1,384 shares of the electric vehicle producer’s stock worth $440,000 after acquiring an additional 185 shares in the last quarter. OMNI 360 Wealth Inc. raised its holdings in shares of Tesla by 20.6% in the 2nd quarter. OMNI 360 Wealth Inc. now owns 3,472 shares of the electric vehicle producer’s stock valued at $1,103,000 after purchasing an additional 594 shares during the period. Bangor Savings Bank lifted its stake in Tesla by 5.9% in the 2nd quarter. Bangor Savings Bank now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 55 shares during the last quarter. Abner Herrman & Brock LLC bought a new position in Tesla during the second quarter worth about $17,753,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Tesla by 761.7% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 16,916 shares of the electric vehicle producer’s stock worth $5,373,000 after buying an additional 14,953 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of Tesla stock opened at $395.94 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a 50-day simple moving average of $328.89 and a two-hundred day simple moving average of $303.57.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of several research analyst reports. Bank of America lifted their target price on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Wedbush reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research note on Friday, September 5th. Finally, Mizuho decreased their price target on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $303.00.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,606 shares of company stock valued at $51,999,662 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla 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.