Grandfield & Dodd LLC Sells 244 Shares of Tesla, Inc. (NASDAQ:TSLA)

Grandfield & Dodd LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,633 shares of the electric vehicle producer’s stock after selling 244 shares during the quarter. Grandfield & Dodd LLC’s holdings in Tesla were worth $682,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSLA. Norges Bank bought a new stake in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC boosted its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares of the company’s stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Roth Mkm lowered their price target on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, July 11th. BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. Finally, Oppenheimer restated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $300.19.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $310.78 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The firm has a 50-day simple moving average of $324.04 and a 200 day simple moving average of $318.47. The company has a market cap of $1.00 trillion, a PE ratio of 170.76, a P/E/G ratio of 9.43 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.