Massachusetts Wealth Management Sells 120 Shares of Tesla, Inc. (NASDAQ:TSLA)

Massachusetts Wealth Management decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,430 shares of the electric vehicle producer’s stock after selling 120 shares during the period. Massachusetts Wealth Management’s holdings in Tesla were worth $251,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth approximately $7,844,757,000. Morgan Stanley raised its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after purchasing an additional 458,804 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Tesla by 12.9% during 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 purchasing an additional 1,125,329 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 6.5 %

Shares of NASDAQ:TSLA traded up $15.13 on Thursday, reaching $246.39. 166,561,471 shares of the company traded hands, compared to its average volume of 80,957,576. The stock has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31. The business’s 50-day simple moving average is $180.89 and its 200 day simple moving average is $190.93. The company has a current ratio of 1.72, a quick ratio of 1.17 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.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group dropped their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Truist Financial reiterated a “hold” rating and set a $162.00 target price on shares of Tesla in a research report on Wednesday. TD Cowen boosted their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Finally, Citigroup reissued a “neutral” rating on shares of Tesla in a report on Wednesday, June 12th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $189.47.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the business’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 in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was 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 of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company 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.