Gryphon Financial Partners LLC Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Gryphon Financial Partners LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,127 shares of the electric vehicle producer’s stock after selling 101 shares during the quarter. Tesla accounts for 0.5% of Gryphon Financial Partners LLC’s holdings, making the stock its 26th largest holding. Gryphon Financial Partners LLC’s holdings in Tesla were worth $3,686,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter worth $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla during the 3rd quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla during the 4th quarter worth $46,000. PayPay Securities Corp lifted its stake in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares during the last quarter. Finally, Finley Financial LLC purchased a new stake in shares of Tesla during the 4th quarter worth $64,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,996 shares of company stock valued at $118,467,387. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $272.11 on Wednesday. The company has a market cap of $875.24 billion, a PE ratio of 133.39, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock’s 50 day simple moving average is $378.63 and its 200-day simple moving average is $318.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. 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 earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Evercore ISI upped their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Robert W. Baird reduced their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research report on Monday. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $315.33.

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.