BostonPremier Wealth LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,830 shares of the electric vehicle producer's stock after buying an additional 743 shares during the period. Tesla makes up about 0.5% of BostonPremier Wealth LLC's investment portfolio, making the stock its 20th largest holding. BostonPremier Wealth LLC's holdings in Tesla were worth $899,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. grew its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last three months. 19.90% of the stock is currently owned by company insiders.
Tesla Stock Performance
TSLA opened at $423.39 on Friday. The firm has a market cap of $1.41 trillion, a P/E ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a 50 day simple moving average of $349.83 and a two-hundred day simple moving average of $312.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.
Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
TSLA has been the subject of a number of research analyst reports. HSBC reiterated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Mizuho lifted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday. Bank of America lifted their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. The Goldman Sachs Group boosted their target price on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research report on Thursday, September 18th. Finally, Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $326.74.
Check Out Our Latest Stock Analysis on TSLA
About Tesla
(
Free Report)
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.
Further Reading
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