Greenwich Wealth Management LLC Sells 222 Shares of Tesla, Inc. (NASDAQ:TSLA)

Greenwich Wealth Management LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,072 shares of the electric vehicle producer’s stock after selling 222 shares during the period. Greenwich Wealth Management LLC’s holdings in Tesla were worth $837,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla in the fourth quarter worth about $46,000. Parkworth Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter worth about $47,000. PayPay Securities Corp boosted its stake in shares of Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the period. Finally, Rialto Wealth Management LLC bought a new position in shares of Tesla in the fourth quarter worth about $55,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Glj Research reiterated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $325.65.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value 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 $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 3.9 %

NASDAQ:TSLA opened at $249.98 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a 50-day moving average of $351.31 and a 200 day moving average of $319.51. The firm has a market cap of $804.06 billion, a PE ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.