West Branch Capital LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

West Branch Capital LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 24.2% in the first quarter, Holdings Channel.com reports. The firm owned 8,883 shares of the electric vehicle producer’s stock after purchasing an additional 1,730 shares during the period. West Branch Capital LLC’s holdings in Tesla were worth $2,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Tesla in the fourth quarter valued at $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. Piper Sandler restated an “overweight” rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday. Barclays reduced their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Mizuho boosted their price objective on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Finally, Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $293.67.

Tesla Stock Up 1.9%

NASDAQ:TSLA opened at $325.31 on Friday. The firm has a market capitalization of $1.05 trillion, a PE ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The stock has a 50 day moving average of $299.39 and a 200-day moving average of $332.88. Tesla, Inc. has a 52 week low of $176.92 and a 52 week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company posted $0.45 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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.