Retirement Planning Co of New England Inc. Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Retirement Planning Co of New England Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,280 shares of the electric vehicle producer's stock, valued at approximately $332,000.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank bought a new stake in Tesla during the fourth quarter worth $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Tesla stock opened at $319.41 on Friday. The company has a market cap of $1.03 trillion, a P/E ratio of 175.50, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The business has a fifty day moving average of $325.64 and a two-hundred day moving average of $317.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Finally, Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $300.19.

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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