Nvest Financial LLC Acquires 51 Shares of Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Nvest Financial LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,352 shares of the electric vehicle producer’s stock after buying an additional 51 shares during the quarter. Nvest Financial LLC’s holdings in Tesla were worth $350,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Glj Research reaffirmed a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Barclays decreased their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Finally, Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $298.37.

Read Our Latest Analysis on Tesla

Tesla Stock Performance

NASDAQ TSLA opened at $325.78 on Friday. The company has a market capitalization of $1.05 trillion, a PE ratio of 179.00, a price-to-earnings-growth ratio of 12.25 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a 50-day simple moving average of $313.28 and a 200 day simple moving average of $331.01.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company 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 business earned $0.45 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now owns 5,924 shares of the company’s stock, valued at $1,692,546.04. The trade was a 30.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 over the last ninety days. 20.70% of the stock is currently owned by insiders.

About Tesla

(Free Report)

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.

See Also

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