Bourne Lent Asset Management Inc. Has $1.76 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Bourne Lent Asset Management Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 8.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 6,775 shares of the electric vehicle producer’s stock after selling 600 shares during the period. Tesla comprises 0.8% of Bourne Lent Asset Management Inc.’s investment portfolio, making the stock its 25th biggest position. Bourne Lent Asset Management Inc.’s holdings in Tesla were worth $1,756,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC raised its position in shares of 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 purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its position 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 valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC raised its position in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 3.7%

Shares of NASDAQ:TSLA opened at $295.14 on Friday. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s fifty day moving average is $292.17 and its 200-day moving average is $333.56. The company has a market capitalization of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated 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. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 870,721 shares of company stock worth $286,248,728. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TSLA. Raymond James lowered shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Robert W. Baird dropped their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Roth Mkm dropped their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald dropped their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $294.27.

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.