Bourne Lent Asset Management Inc. Has $1.99 Million Stock Holdings in Tesla, Inc. $TSLA

by · The Markets Daily

Bourne Lent Asset Management Inc. lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,275 shares of the electric vehicle producer’s stock after selling 500 shares during the quarter. Tesla accounts for approximately 0.8% of Bourne Lent Asset Management Inc.’s portfolio, making the stock its 26th largest position. Bourne Lent Asset Management Inc.’s holdings in Tesla were worth $1,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Pacific Center for Financial Services boosted its holdings in Tesla by 1,616.7% during the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock worth $42,000 after acquiring an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter worth $27,000. Finally, 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 worth $27,000 after buying an additional 75 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the 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 sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the 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 directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,606 shares of company stock worth $51,999,662. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a report on Tuesday, July 29th. Benchmark reissued a “buy” rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a research report on Friday, September 5th. Finally, Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $303.00.

View Our Latest Analysis on Tesla

Tesla Price Performance

NASDAQ TSLA opened at $395.94 on Monday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock has a 50-day moving average of $328.89 and a 200 day moving average of $303.72. The company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a PEG ratio of 13.81 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA – Get Free Report) 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 analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA – Free Report).