Tesla, Inc. (NASDAQ:TSLA) Stock Position Increased by Eastern Bank

Eastern Bank lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 826.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,918 shares of the electric vehicle producer’s stock after buying an additional 63,263 shares during the period. Eastern Bank’s holdings in Tesla were worth $28,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSLA. Oppenheimer Asset Management Inc. raised its stake in shares of Tesla by 112.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,857 shares of the electric vehicle producer’s stock worth $7,095,000 after buying an additional 18,953 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Tesla by 20.2% during the second quarter. Envestnet Asset Management Inc. now owns 1,101,923 shares of the electric vehicle producer’s stock worth $218,048,000 after purchasing an additional 185,335 shares during the period. Redwood Wealth Management Group LLC lifted its holdings in shares of Tesla by 49.1% during the second quarter. Redwood Wealth Management Group LLC now owns 3,958 shares of the electric vehicle producer’s stock valued at $783,000 after purchasing an additional 1,304 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Tesla by 36.6% during the second quarter. Brown Brothers Harriman & Co. now owns 10,921 shares of the electric vehicle producer’s stock valued at $2,161,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Tesla during the second quarter valued at $220,000. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $403.31 on Tuesday. The stock has a market cap of $1.29 trillion, a P/E ratio of 110.50, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a fifty day moving average price of $379.81 and a 200 day moving average price of $283.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays upped their target price on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. UBS Group lifted their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Finally, Robert W. Baird lifted their target price on shares of Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $296.60.

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.