Grimes & Company Inc. Has $1.02 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Grimes & Company Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 4.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,810 shares of the electric vehicle producer’s stock after selling 288 shares during the period. Grimes & Company Inc.’s holdings in Tesla were worth $1,021,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at $25,000. Lam Group Inc. purchased a new position in Tesla during the 4th quarter valued at about $25,000. Mendota Financial Group LLC lifted its position in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the fourth quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its stake in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TSLA. Wedbush restated an “outperform” rating and issued a $275.00 target price on shares of Tesla in a research note on Friday, June 14th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 target price on shares of Tesla in a research note on Monday, April 22nd. Barclays decreased their target price on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Truist Financial cut their price target on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Finally, Jefferies Financial Group lowered their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $187.30.

Tesla Stock Up 0.2 %

NASDAQ TSLA opened at $197.88 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market cap of $631.08 billion, a PE ratio of 50.48, a PEG ratio of 4.91 and a beta of 2.32. The firm has a 50-day simple moving average of $177.80 and a 200 day simple moving average of $191.71.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. On average, research analysts forecast that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock valued at $19,285,643 over the last ninety days. 25.10% of the stock is owned by company insiders.

About Tesla

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.