Blue Trust Inc. Purchases 807 Shares of Tesla, Inc. $TSLA

Blue Trust Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,746 shares of the electric vehicle producer’s stock after buying an additional 807 shares during the quarter. Blue Trust Inc.’s holdings in Tesla were worth $4,049,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Monument Capital Management grew its holdings in shares of Tesla by 29.9% during the second quarter. Monument Capital Management now owns 1,082 shares of the electric vehicle producer’s stock worth $344,000 after buying an additional 249 shares in the last quarter. L. Roy Papp & Associates LLP grew its holdings in shares of Tesla by 2.6% during the second quarter. L. Roy Papp & Associates LLP now owns 2,613 shares of the electric vehicle producer’s stock worth $830,000 after buying an additional 65 shares in the last quarter. Baskin Financial Services Inc. bought a new position in shares of Tesla during the second quarter worth about $257,000. Galvin Gaustad & Stein LLC grew its holdings in shares of Tesla by 106.0% during the second quarter. Galvin Gaustad & Stein LLC now owns 1,710 shares of the electric vehicle producer’s stock worth $543,000 after buying an additional 880 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its holdings in shares of Tesla by 5.3% during the second quarter. Cardano Risk Management B.V. now owns 804,599 shares of the electric vehicle producer’s stock worth $255,589,000 after buying an additional 40,625 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. HSBC increased their price target on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Morgan Stanley reissued an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Thursday, October 2nd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Wedbush increased their price target on Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $354.67.

Tesla Stock Performance

TSLA opened at $413.49 on Friday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 15.01 and a beta of 2.08. The business has a 50 day moving average of $375.97 and a 200-day moving average of $327.89. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

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.