Boomfish Wealth Group LLC Sells 68 Shares of Tesla, Inc. $TSLA

Boomfish Wealth Group LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,280 shares of the electric vehicle producer’s stock after selling 68 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Tesla were worth $1,042,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC boosted its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the 1st quarter valued at approximately $27,000. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 5.1%

TSLA opened at $413.49 on Friday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.37 trillion, a P/E ratio of 239.01, a P/E/G ratio of 15.81 and a beta of 2.08. The stock has a fifty day moving average of $375.97 and a 200-day moving average of $327.51.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSLA shares. UBS Group set a $247.00 price objective on Tesla in a report on Monday. Benchmark reaffirmed a “buy” rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Royal Bank Of Canada raised their price target on Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a report on Friday. Finally, Mizuho raised their price target on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $354.67.

Tesla 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.