Northeast Investment Management Increases Stock Position in Tesla, Inc. $TSLA

Northeast Investment Management grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,805 shares of the electric vehicle producer’s stock after acquiring an additional 265 shares during the period. Northeast Investment Management’s holdings in Tesla were worth $7,244,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its position in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC increased its stake in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. GAMMA Investing LLC lifted its position in shares of Tesla by 6.0% during the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after purchasing an additional 2,153 shares in the last quarter. Finally, Stonegate Investment Group LLC boosted its stake in shares of Tesla by 16.9% in the first quarter. Stonegate Investment Group LLC now owns 3,247 shares of the electric vehicle producer’s stock valued at $842,000 after purchasing an additional 469 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 2.5%

NASDAQ:TSLA opened at $439.31 on Monday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. 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 stock has a 50-day simple moving average of $387.54 and a 200-day simple moving average of $334.06.

Tesla (NASDAQ:TSLA) last announced 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on TSLA. Wedbush upped their target price on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Industrial Alliance Securities set a $300.00 price target on Tesla in a report on Monday, October 13th. Finally, UBS Group set a $247.00 price target on Tesla in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $363.54.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. Insiders own 19.90% of the company’s stock.

About Tesla

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.