Boomfish Wealth Group LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Boomfish Wealth Group LLC raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,348 shares of the electric vehicle producer's stock after buying an additional 996 shares during the quarter. Boomfish Wealth Group LLC's holdings in Tesla were worth $868,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TSLA. Wealth Group Ltd. acquired a new position in Tesla in the 4th quarter valued at $275,000. Tallon Kerry Patrick acquired a new stake in shares of Tesla during the 4th quarter worth $374,000. Eagle Capital Management LLC bought a new position in shares of Tesla in the fourth quarter worth $331,000. Brighton Jones LLC raised its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 0.0%

Tesla stock traded up $0.11 during midday trading on Friday, reaching $322.16. The stock had a trading volume of 108,158,217 shares, compared to its average volume of 100,816,843. The company has a fifty day moving average price of $304.81 and a two-hundred day moving average price of $332.35. Tesla, Inc. has a 12 month low of $179.66 and a 12 month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.04 trillion, a P/E ratio of 177.01, a PEG ratio of 12.04 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 business 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 prior year, the business earned $0.45 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and raised their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $293.67.

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.