Blue Trust Inc. Has $11.87 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Blue Trust Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,403 shares of the electric vehicle producer’s stock after buying an additional 2,999 shares during the quarter. Blue Trust Inc.’s holdings in Tesla were worth $11,874,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth $29,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Tesla in the third quarter valued at about $35,000. M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP acquired a new position in Tesla during the second quarter valued at approximately $48,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock valued at $212,451,751 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. Royal Bank of Canada increased their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Truist Financial reaffirmed a “hold” rating and set a $360.00 price target on shares of Tesla in a report on Thursday, January 2nd. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday. Finally, HSBC restated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $313.84.

Tesla Stock Performance

Shares of TSLA stock opened at $389.10 on Thursday. The firm has a market capitalization of $1.25 trillion, a PE ratio of 106.60, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $401.04 and a 200-day moving average price of $296.63.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. As a group, equities research analysts expect that Tesla, Inc. will post 2.01 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.