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

West Branch Capital LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 42.0% during the third quarter, HoldingsChannel.com reports. The fund owned 4,502 shares of the electric vehicle producer’s stock after acquiring an additional 1,332 shares during the period. West Branch Capital LLC’s holdings in Tesla were worth $1,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.1 %

Shares of Tesla stock traded down $0.19 during trading on Friday, hitting $220.70. The company’s stock had a trading volume of 49,611,867 shares, compared to its average volume of 94,365,750. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a fifty day simple moving average of $227.67 and a two-hundred day simple moving average of $205.39. The company has a market capitalization of $703.86 billion, a PE ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on TSLA shares. Barclays decreased their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $230.00 price target on shares of Tesla in a report on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Friday, October 11th. TD Cowen upped their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Citigroup cut their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $210.72.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’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 in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents 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 worth $16,663,291 in the last three months. 25.10% of the stock is owned by corporate insiders.

Tesla Company 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.