Birch Hill Investment Advisors LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Birch Hill Investment Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,391 shares of the electric vehicle producer’s stock after purchasing an additional 58 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Tesla were worth $620,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. lifted its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. Pflug Koory LLC lifted its stake in shares of Tesla by 370.4% in the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 100 shares during the period. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the period. Finally, Navigoe LLC acquired a new stake in shares of Tesla in the 4th quarter worth $37,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. TD Cowen upgraded shares of 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. HSBC reduced their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Finally, Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $316.73 on Wednesday. The company has a market cap of $1.02 trillion, a PE ratio of 174.03, a price-to-earnings-growth ratio of 12.36 and a beta of 2.47. Tesla, Inc. has a 12 month low of $179.66 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a 50-day simple moving average of $302.42 and a 200-day simple moving average of $332.66.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.