Blodgett Wealth Advisors LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Blodgett Wealth Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,455 shares of the electric vehicle producer’s stock after purchasing an additional 485 shares during the quarter. Tesla makes up about 0.6% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 27th biggest position. Blodgett Wealth Advisors LLC’s holdings in Tesla were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. GHP Investment Advisors Inc. grew its position in Tesla by 18.8% during the third quarter. GHP Investment Advisors Inc. now owns 922 shares of the electric vehicle producer’s stock valued at $232,000 after buying an additional 146 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Tesla by 73.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 7,430 shares of the electric vehicle producer’s stock valued at $1,859,000 after acquiring an additional 3,156 shares during the period. Capital Asset Advisory Services LLC increased its stake in shares of Tesla by 14.6% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 15,072 shares of the electric vehicle producer’s stock worth $3,964,000 after purchasing an additional 1,923 shares during the last quarter. Leverty Financial Group LLC bought a new stake in shares of Tesla in the 3rd quarter worth approximately $213,000. Finally, Roman Butler Fullerton & Co. lifted its stake in Tesla by 3.8% in the third quarter. Roman Butler Fullerton & Co. now owns 1,314 shares of the electric vehicle producer’s stock valued at $330,000 after purchasing an additional 48 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last three months. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. Royal Bank of Canada decreased their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday. Roth Mkm reissued a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday. HSBC cut their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Finally, Barclays cut their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Eight research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.70.

Tesla Price Performance

Shares of Tesla stock traded down $1.89 during trading on Friday, hitting $168.29. 109,309,500 shares of the stock traded hands, compared to its average volume of 100,050,800. The stock has a market cap of $536.71 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.50 and a beta of 2.39. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The firm’s fifty day moving average is $175.04 and its 200-day moving average is $208.00. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 EPS. Research analysts expect that Tesla, Inc. will post 1.97 EPS 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.