Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Nvest Financial LLC

Nvest Financial LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 336.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,213 shares of the electric vehicle producer’s stock after purchasing an additional 4,790 shares during the quarter. Nvest Financial LLC’s holdings in Tesla were worth $1,092,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC grew its holdings in Tesla by 3.2% in the 3rd quarter. Ancora Advisors LLC now owns 5,086 shares of the electric vehicle producer’s stock worth $1,273,000 after buying an additional 156 shares in the last quarter. Becker Capital Management Inc. lifted its position in shares of Tesla by 3.4% during the 3rd quarter. Becker Capital Management Inc. now owns 1,974 shares of the electric vehicle producer’s stock valued at $494,000 after acquiring an additional 65 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Tesla by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 38,224 shares of the electric vehicle producer’s stock valued at $9,564,000 after acquiring an additional 1,303 shares during the last quarter. Advanced Portfolio Management LLC acquired a new stake in shares of Tesla during the 3rd quarter valued at $429,000. Finally, Axxcess Wealth Management LLC lifted its position in shares of Tesla by 41.4% during the 3rd quarter. Axxcess Wealth Management LLC now owns 49,449 shares of the electric vehicle producer’s stock valued at $12,348,000 after acquiring an additional 14,490 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Stifel Nicolaus started coverage on shares of Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Truist Financial cut their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Finally, Guggenheim reissued a “sell” rating and set a $126.00 target price on shares of Tesla in a research note on Tuesday, June 25th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $187.30.

Tesla Stock Performance

TSLA stock traded up $21.40 during mid-day trading on Tuesday, reaching $231.26. 202,700,192 shares of the stock traded hands, compared to its average volume of 96,511,578. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The business has a 50-day moving average of $179.16 and a two-hundred day moving average of $191.09. The firm has a market capitalization of $737.53 billion, a PE ratio of 59.00, a P/E/G ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. As a group, equities analysts predict that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

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.