Blue Trust Inc. Acquires 6,457 Shares of Tesla, Inc. (NASDAQ:TSLA)

Blue Trust Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,404 shares of the electric vehicle producer’s stock after acquiring an additional 6,457 shares during the quarter. Blue Trust Inc.’s holdings in Tesla were worth $6,908,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Tesla by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Down 0.1 %

Shares of NASDAQ:TSLA opened at $220.70 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $227.67 and a two-hundred day moving average of $205.12. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a market capitalization of $703.86 billion, a PE ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the firm posted $0.78 EPS. Tesla’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TSLA shares. KGI Securities restated a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Piper Sandler boosted their price target on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $210.72.

Tesla Company Profile

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.