Trueblood Wealth Management LLC Acquires 100 Shares of Tesla, Inc. $TSLA

Trueblood Wealth Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,055 shares of the electric vehicle producer’s stock after buying an additional 100 shares during the period. Trueblood Wealth Management LLC’s holdings in Tesla were worth $653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter valued at approximately $27,000. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. lifted its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TSLA shares. Benchmark reaffirmed a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. UBS Group set a $247.00 price target on Tesla in a research note on Monday. China Renaissance restated a “hold” rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Finally, Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $344.40.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last 90 days. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $433.09 on Wednesday. The company’s 50 day moving average price is $368.81 and its two-hundred day moving average price is $324.77. 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, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The stock has a market cap of $1.44 trillion, a P/E ratio of 250.34, a P/E/G ratio of 15.75 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.