Fairhaven Wealth Management LLC Has $441,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fairhaven Wealth Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,228 shares of the electric vehicle producer’s stock after purchasing an additional 251 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in Tesla were worth $441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Apexium Financial LP increased its holdings in Tesla by 736.8% in the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares in the last quarter. Forum Financial Management LP grew its stake in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after acquiring an additional 3,582 shares during the period. Catalyst Financial Partners LLC boosted its position in shares of Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after buying an additional 598 shares during the last quarter. Atalanta Sosnoff Capital LLC boosted its position in shares of Tesla by 3.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after buying an additional 6,575 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after buying an additional 1,943 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Up 3.8 %

TSLA traded up $7.83 during midday trading on Friday, reaching $214.11. 63,370,608 shares of the company’s stock traded hands, compared to its average volume of 73,554,480. The firm has a fifty day moving average of $222.00 and a two-hundred day moving average of $192.88. The stock has a market capitalization of $682.84 billion, a price-to-earnings ratio of 54.62, a P/E/G ratio of 5.55 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Roth Mkm reissued a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Truist Financial reissued a “hold” rating and issued a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Stifel Nicolaus started coverage on Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective on the stock. KGI Securities restated a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lowered their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $204.21.

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.