Boltwood Capital Management Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Boltwood Capital Management boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,960 shares of the electric vehicle producer’s stock after purchasing an additional 40 shares during the period. Boltwood Capital Management’s holdings in Tesla were worth $508,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in Tesla during the fourth quarter worth approximately $56,600,000. Stephens Consulting LLC raised its stake in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares during the period. Harvard Management Co. Inc. purchased a new position in shares of Tesla in the 4th quarter valued at $8,158,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after acquiring an additional 60,342 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. Royal Bank of Canada cut their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. HSBC cut their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Raymond James downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $293.97.

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. The trade was a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 in the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $332.05 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a fifty day moving average of $291.12 and a two-hundred day moving average of $334.34. The firm has a market cap of $1.07 trillion, a P/E ratio of 162.77, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.