West Branch Capital LLC Has $2.89 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

West Branch Capital LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 58.9% during the 4th quarter, HoldingsChannel reports. The fund owned 7,153 shares of the electric vehicle producer’s stock after acquiring an additional 2,651 shares during the quarter. Tesla accounts for approximately 0.9% of West Branch Capital LLC’s holdings, making the stock its 23rd largest position. West Branch Capital LLC’s holdings in Tesla were worth $2,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in shares of Tesla by 3.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 590,182 shares of the electric vehicle producer’s stock worth $238,339,000 after purchasing an additional 18,913 shares during the period. Traphagen Investment Advisors LLC grew its position in Tesla by 7.8% during the fourth quarter. Traphagen Investment Advisors LLC now owns 3,453 shares of the electric vehicle producer’s stock worth $1,394,000 after buying an additional 251 shares in the last quarter. Genesis Private Wealth LLC bought a new position in Tesla during the 4th quarter worth $584,000. Simon Quick Advisors LLC raised its holdings in Tesla by 4.7% in the 4th quarter. Simon Quick Advisors LLC now owns 20,433 shares of the electric vehicle producer’s stock valued at $8,252,000 after acquiring an additional 908 shares in the last quarter. Finally, Beaumont Financial Advisors LLC lifted its position in shares of Tesla by 14.8% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,316 shares of the electric vehicle producer’s stock valued at $1,339,000 after acquiring an additional 428 shares during the period. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 1.4 %

NASDAQ TSLA opened at $406.58 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a 50 day simple moving average of $397.11 and a 200 day simple moving average of $292.97. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Piper Sandler lifted their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday. HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Evercore ISI boosted their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $313.84.

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.