Forbes J M & Co. LLP increased its position in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 6.3% in the 1st quarter, HoldingsChannel reports. The firm owned 302 shares of the electric vehicle producer’s stock after acquiring an additional 18 shares during the quarter. Forbes J M & Co. LLP’s holdings in Tesla were worth $325,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. AllSquare Wealth Management LLC raised its holdings in shares of Tesla by 766.7% during the 4th quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 23 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Tesla during the fourth quarter worth about $32,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Tesla in the fourth quarter worth about $32,000. First Financial Corp IN acquired a new stake in shares of Tesla in the 1st quarter valued at approximately $32,000. Finally, Greenspring Advisors LLC bought a new stake in shares of Tesla during the 1st quarter valued at approximately $32,000. 40.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Tesla
In related news, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $722.10, for a total transaction of $2,527,350.00. Following the completion of the sale, the senior vice president now directly owns 20,138 shares of the company’s stock, valued at $14,541,649.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 3,500 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $722.10, for a total transaction of $2,527,350.00. Following the completion of the transaction, the senior vice president now directly owns 20,138 shares of the company’s stock, valued at $14,541,649.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 8,750 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $904.00, for a total value of $7,910,000.00. Following the completion of the transaction, the director now owns 1,800 shares in the company, valued at $1,627,200. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,239 shares of company stock valued at $53,099,879. 25.10% of the stock is owned by insiders.
Tesla Stock Performance
Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 EPS for the quarter, topping the consensus estimate of $1.81 by $0.46. The firm had revenue of $16.93 billion during the quarter, compared to the consensus estimate of $16.92 billion. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 10.58 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Tudor Pickering upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. UBS Group upgraded Tesla from a “neutral” rating to a “buy” rating and set a $1,100.00 price objective on the stock in a research report on Thursday, June 9th. Jefferies Financial Group reduced their price objective on Tesla from $1,250.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Thursday, May 26th. They noted that the move was a valuation call. Truist Financial began coverage on Tesla in a research report on Wednesday, July 13th. They set a “buy” rating and a $1,000.00 price objective on the stock. Finally, Tudor, Pickering, Holt & Co. upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Eight equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $859.50.
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.
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