BostonPremier Wealth LLC Acquires 292 Shares of Tesla, Inc. (NASDAQ:TSLA)

BostonPremier Wealth LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,087 shares of the electric vehicle producer’s stock after purchasing an additional 292 shares during the quarter. Tesla accounts for about 0.3% of BostonPremier Wealth LLC’s holdings, making the stock its 25th biggest holding. BostonPremier Wealth LLC’s holdings in Tesla were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC grew its position in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new position in shares of Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction 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 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. Over the last quarter, insiders sold 833,509 shares of company stock worth $278,648,925. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Robert W. Baird reissued a “neutral” rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.67.

Tesla Stock Up 1.8%

NASDAQ TSLA opened at $322.05 on Thursday. Tesla, Inc. has a 52 week low of $179.66 and a 52 week high of $488.54. The firm has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.95, a PEG ratio of 11.88 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. The company has a fifty day moving average of $303.42 and a two-hundred day moving average of $332.59.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, analysts predict 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.