Tesla, Inc. (NASDAQ:TSLA) Stake Lowered by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,265 shares of the electric vehicle producer’s stock after selling 40 shares during the quarter. Tesla makes up approximately 1.0% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 19th largest position. Blodgett Wealth Advisors LLC’s holdings in Tesla were worth $1,319,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter valued at about $29,000. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the period. Mendota Financial Group LLC acquired a new position in shares of Tesla during the third quarter valued at approximately $64,000. Finally, Finley Financial LLC bought a new stake in Tesla during the fourth quarter worth approximately $64,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 3.4 %

Shares of TSLA opened at $361.62 on Friday. The company has a market capitalization of $1.16 trillion, a P/E ratio of 177.27, a PEG ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business’s 50 day simple moving average is $407.94 and its 200-day simple moving average is $302.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Robert W. Baird decreased their price objective on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, Truist Financial increased their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $322.29.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 664,776 shares of company stock valued at $239,746,862 in the last 90 days. 20.70% of the stock is currently owned by insiders.

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.