West Branch Capital LLC Acquires 1,332 Shares of Tesla, Inc. (NASDAQ:TSLA)

West Branch Capital LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 42.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,502 shares of the electric vehicle producer’s stock after purchasing an additional 1,332 shares during the quarter. West Branch Capital LLC’s holdings in Tesla were worth $1,178,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TSLA. Clean Energy Transition LLP increased its stake in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. increased its stake in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. Royal Bank of Canada lifted their price objective on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial raised their target price on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. Finally, Argus restated a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $210.72.

Tesla Stock Down 0.1 %

TSLA traded down $0.19 during midday trading on Friday, hitting $220.70. The company had a trading volume of 49,611,867 shares, compared to its average volume of 94,365,750. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $703.86 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. The stock’s 50 day moving average price is $227.67 and its 200 day moving average price is $205.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last three months. Corporate insiders own 25.10% of the company’s stock.

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.