Blue Barn Wealth LLC Acquires 321 Shares of Tesla, Inc. (NASDAQ:TSLA)

Blue Barn Wealth LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 21.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,805 shares of the electric vehicle producer’s stock after purchasing an additional 321 shares during the quarter. Blue Barn Wealth LLC’s holdings in Tesla were worth $357,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter worth about $25,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter worth about $37,000. Kessler Investment Group LLC grew its holdings in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the last quarter. Aspect Partners LLC grew its holdings in shares of Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 114 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Tesla in the 2nd quarter worth about $42,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and upped their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $300.00 price target on shares of Tesla in a research report on Monday, August 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $204.21.

Insider Buying and Selling

In related 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 transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 25.10% of the stock is owned by company insiders.

Tesla Price Performance

NASDAQ TSLA opened at $228.82 on Friday. The business has a 50 day simple moving average of $224.21 and a 200 day simple moving average of $193.52. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market cap of $731.00 billion, a price-to-earnings ratio of 58.72, a PEG ratio of 5.55 and a beta of 2.29.

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