Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Welch & Forbes LLC

Welch & Forbes LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,161 shares of the electric vehicle producer’s stock after acquiring an additional 218 shares during the quarter. Welch & Forbes LLC’s holdings in Tesla were worth $1,338,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Eagle Capital Management LLC purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $331,000. Brighton Jones LLC lifted its holdings in shares of 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. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in Tesla during the fourth quarter valued at $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in Tesla during the 4th quarter worth about $2,367,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.5%

TSLA stock opened at $321.67 on Thursday. The business has a fifty day moving average price of $324.95 and a 200 day moving average price of $318.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.74, a P/E/G ratio of 9.26 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released 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 business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the firm earned $0.45 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TSLA shares. Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $303.00 price target on shares of Tesla in a research note on Monday, June 30th. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Robert W. Baird reissued a “neutral” rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $300.19.

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.