Greenup Street Wealth Management LLC Reduces Stake in Tesla, Inc. $TSLA

Greenup Street Wealth Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,512 shares of the electric vehicle producer’s stock after selling 276 shares during the quarter. Tesla makes up about 1.0% of Greenup Street Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. Greenup Street Wealth Management LLC’s holdings in Tesla were worth $5,563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $29,000. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth approximately $27,000. Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. Evergreen Private Wealth LLC lifted its holdings in Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the period. Finally, Centennial Bank AR raised its position in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TSLA. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. UBS Group set a $247.00 target price on Tesla in a research note on Monday, October 6th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Benchmark restated a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $363.54.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Up 1.8%

TSLA stock opened at $447.43 on Tuesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. 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 firm has a market cap of $1.49 trillion, a PE ratio of 258.63, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08. The business has a 50 day moving average of $389.71 and a 200 day moving average of $335.51.

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

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.