Blue Trust Inc. Acquires 1,794 Shares of Tesla, Inc. $TSLA

Blue Trust Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,540 shares of the electric vehicle producer’s stock after acquiring an additional 1,794 shares during the quarter. Blue Trust Inc.’s holdings in Tesla were worth $6,466,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Siren L.L.C. bought a new position in Tesla during the 1st quarter valued at approximately $2,332,000. Norges Bank bought a new stake in shares of Tesla in the 2nd quarter worth approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Tesla by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after buying an additional 22,607 shares during the period. Strs Ohio bought a new position in shares of Tesla during the first quarter valued at approximately $205,495,000. Finally, AustralianSuper Pty Ltd lifted its stake in Tesla by 1,823.0% in the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock worth $21,704,000 after acquiring an additional 64,772 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BNP Paribas boosted their price objective on shares of Tesla from $307.00 to $313.00 in a research report on Monday, December 1st. DZ Bank reiterated a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. TD Cowen increased their price target on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Piper Sandler restated an “overweight” rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday, December 9th. Finally, Bank of America upped their target price on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $414.50.

Check Out Our Latest Stock Analysis on Tesla

Tesla Stock Performance

Shares of Tesla stock opened at $475.19 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $498.83. The firm’s 50-day moving average is $444.97 and its 200 day moving average is $386.90. The stock has a market cap of $1.58 trillion, a price-to-earnings ratio of 316.79, a PEG ratio of 12.01 and a beta of 1.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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