Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Eastern Bank

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

Other institutional investors also recently bought and sold shares of the company. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Tesla during the third quarter worth $29,000. Clean Yield Group boosted its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter worth $35,000. Finally, M&R Capital Management Inc. boosted its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA opened at $403.31 on Tuesday. The firm has a market cap of $1.29 trillion, a price-to-earnings ratio of 110.50, a PEG ratio of 10.80 and a beta of 2.30. The stock has a 50 day moving average of $379.81 and a 200-day moving average of $283.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business 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 firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Stifel Nicolaus upped their price objective on Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $296.60.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.