BG Investment Services Inc. Acquires 701 Shares of Tesla, Inc. (NASDAQ:TSLA)

BG Investment Services Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 36.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,619 shares of the electric vehicle producer’s stock after purchasing an additional 701 shares during the quarter. Tesla comprises approximately 0.8% of BG Investment Services Inc.’s portfolio, making the stock its 23rd biggest holding. BG Investment Services Inc.’s holdings in Tesla were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC lifted its stake in 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 purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 worth $2,542,960,000 after buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% during the 4th 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 acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp grew 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 acquiring an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.1%

TSLA opened at $332.56 on Thursday. 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 business has a fifty day moving average price of $326.13 and a 200 day moving average price of $315.92. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 182.73, a PEG ratio of 12.61 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TSLA shares. The Goldman Sachs Group cut their price objective on Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday. Bank of America increased their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. Finally, Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $298.97.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’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 transaction, the director directly owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company’s stock.

Tesla Company 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.