West Branch Capital LLC Acquires 1,730 Shares of Tesla, Inc. (NASDAQ:TSLA)

West Branch Capital LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,883 shares of the electric vehicle producer’s stock after purchasing an additional 1,730 shares during the quarter. West Branch Capital LLC’s holdings in Tesla were worth $2,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Vista Finance LLC raised its holdings in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after buying an additional 25 shares during the period. Jmac Enterprises LLC raised its holdings in shares of Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after buying an additional 26 shares during the period. TFB Advisors LLC raised its holdings in shares of Tesla by 0.5% in the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock valued at $2,105,000 after buying an additional 27 shares during the period. Vista Capital Partners Inc. raised its holdings in shares of Tesla by 1.4% in the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after buying an additional 27 shares during the period. Finally, Blackston Financial Advisory Group LLC raised its holdings in shares of Tesla by 1.3% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after buying an additional 27 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TSLA. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Mizuho upped their price target on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $293.67.

Tesla Stock Performance

Tesla stock opened at $325.31 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a fifty day moving average of $299.39 and a two-hundred day moving average of $332.88. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a fifty-two week low of $176.92 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the business posted $0.45 EPS. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the transaction, the chief financial officer now owns 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $24,274,300. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 818,509 shares of company stock valued at $273,791,775. Corporate insiders own 20.70% of the company’s stock.

About Tesla

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.