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

Blodgett Wealth Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the third quarter, HoldingsChannel.com reports. The fund owned 3,305 shares of the electric vehicle producer’s stock after selling 100 shares during the quarter. Tesla accounts for about 0.7% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest position. Blodgett Wealth Advisors LLC’s holdings in Tesla were worth $865,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. lifted 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 valued at $36,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last three months. 25.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Royal Bank of Canada lifted their price target on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Friday, October 11th. Argus reiterated a “buy” rating and set a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. The Goldman Sachs Group reiterated a “neutral” rating and set a $230.00 price objective on shares of Tesla in a research report on Friday, October 11th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $211.63.

Tesla Stock Down 0.4 %

Shares of TSLA opened at $217.97 on Wednesday. The firm has a market capitalization of $695.15 billion, a P/E ratio of 55.60, a P/E/G ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $228.30 and a 200-day moving average price of $206.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. Equities research analysts expect that Tesla, Inc. will post 1.75 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.