Blackston Financial Advisory Group LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Blackston Financial Advisory Group LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 40.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,040 shares of the electric vehicle producer’s stock after acquiring an additional 874 shares during the period. Blackston Financial Advisory Group LLC’s holdings in Tesla were worth $788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Norges Bank purchased a new position in Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC raised its holdings in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC lifted its position in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp grew its position in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 1.2%

Shares of TSLA opened at $329.13 on Tuesday. The stock has a 50 day simple moving average of $301.53 and a 200-day simple moving average of $332.77. Tesla, Inc. has a 1 year low of $177.00 and a 1 year high of $488.54. The stock has a market cap of $1.06 trillion, a PE ratio of 161.34, a PEG ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the business earned $0.45 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TSLA shares. The Goldman Sachs Group reduced their target price on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a research report on Friday, June 6th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Benchmark restated a “buy” rating and set a $350.00 target price on shares of Tesla in a research note on Wednesday, April 23rd. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.67.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $24,274,300. This represents a 56.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla 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.