Tesla, Inc. $TSLA Shares Bought by West Branch Capital LLC

Key Points

• West Branch Capital LLC increased its stake in Tesla by 13.2% during Q2, owning a total of 10,054 shares valued at approximately $3.2 million.
• Multiple institutional investors made significant investments in Tesla, with Cherry Tree Wealth Management increasing its position by 86.3% and Newton One Investments boosting its stake by 250% in Q1.
• Tesla's recent earnings report showed EPS of $0.40, missing expectations, while revenue fell 11.8% year-over-year to $22.5 billion.

West Branch Capital LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,054 shares of the electric vehicle producer's stock after purchasing an additional 1,171 shares during the period. Tesla comprises 0.9% of West Branch Capital LLC's investment portfolio, making the stock its 28th biggest position. West Branch Capital LLC's holdings in Tesla were worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% during 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 in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business'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 approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction 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 transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,606 shares of company stock valued at $77,360,462. Corporate insiders own 19.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday. Mizuho raised their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 23rd. The Goldman Sachs Group lifted their price target on shares of Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. Finally, HSBC reaffirmed a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $332.33.

Tesla Stock Up 4.0%

Shares of NASDAQ:TSLA opened at $440.40 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06. The stock has a 50 day moving average price of $352.05 and a 200-day moving average price of $314.88. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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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