Birch Hill Investment Advisors LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Birch Hill Investment Advisors LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSLA. Wealth Group Ltd. purchased a new stake in Tesla during the fourth quarter worth approximately $275,000. Tallon Kerry Patrick acquired a new position in shares of Tesla during the fourth quarter worth $374,000. Eagle Capital Management LLC acquired a new position in shares of Tesla during the fourth quarter worth $331,000. Brighton Jones LLC lifted its position in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its position 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 worth $2,147,000 after purchasing an additional 931 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $316.73 on Wednesday. The firm has a 50-day moving average price of $302.42 and a 200 day moving average price of $332.66. The firm has a market capitalization of $1.02 trillion, a PE ratio of 174.03, a P/E/G ratio of 12.36 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $179.66 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its 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 company 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 quarter in the prior year, the company earned $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Wedbush set a $500.00 price target on shares of Tesla in a report on Thursday, June 5th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $293.67.

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.