Northeast Financial Group Inc. Buys 1,226 Shares of Tesla, Inc. (NASDAQ:TSLA)

Northeast Financial Group Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 195.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,853 shares of the electric vehicle producer's stock after acquiring an additional 1,226 shares during the period. Northeast Financial Group Inc.'s holdings in Tesla were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Lockheed Martin Investment Management Co. bought a new position in Tesla during the 1st quarter valued at about $20,137,000. Nuveen LLC purchased a new position in shares of Tesla during the first quarter valued at approximately $3,247,619,000. Entropy Technologies LP grew its stake in shares of Tesla by 1.8% during the first quarter. Entropy Technologies LP now owns 14,605 shares of the electric vehicle producer's stock valued at $3,785,000 after buying an additional 252 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after buying an additional 2,211,300 shares during the period. Finally, Berger Financial Group Inc lifted its stake in shares of Tesla by 8.8% during the 1st quarter. Berger Financial Group Inc now owns 13,253 shares of the electric vehicle producer's stock worth $3,435,000 after acquiring an additional 1,074 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 2.3%

TSLA stock opened at $329.61 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $318.68 and its 200 day simple moving average is $307.45. The stock has a market cap of $1.06 trillion, a PE ratio of 190.53, a price-to-earnings-growth ratio of 11.58 and a beta of 2.33. Tesla, Inc. has a fifty-two week low of $194.67 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm posted $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. China Renaissance reaffirmed a "hold" rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Finally, Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $303.31.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 602,724 shares of company stock valued at $214,176,831 over the last 90 days. Insiders own 20.70% of the company's stock.

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.

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