Blankinship & Foster LLC Invests $1.24 Million in Tesla, Inc. (NASDAQ:TSLA)

Blankinship & Foster LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, HoldingsChannel.com reports. The firm acquired 4,750 shares of the electric vehicle producer’s stock, valued at approximately $1,243,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Destination Wealth Management increased its stake in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Tesla by 106.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 16,100 shares of the electric vehicle producer’s stock valued at $4,212,000 after acquiring an additional 8,303 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Tesla in the third quarter valued at $539,000. World Investment Advisors LLC increased its holdings in Tesla by 43.7% during the 3rd quarter. World Investment Advisors LLC now owns 21,219 shares of the electric vehicle producer’s stock worth $5,552,000 after purchasing an additional 6,449 shares during the period. Finally, Eaton Financial Holdings Company LLC acquired a new stake in Tesla in the 3rd quarter valued at about $396,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This trade 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 stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,886 shares of company stock valued at $171,393,831. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock traded down $4.14 during midday trading on Thursday, hitting $420.63. 20,593,327 shares of the stock were exchanged, compared to its average volume of 94,449,211. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.35 trillion, a price-to-earnings ratio of 116.38, a PEG ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $426.92. The stock’s 50-day moving average price is $294.47 and its 200-day moving average price is $243.51.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. UBS Group raised their target price on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. HSBC reaffirmed a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Truist Financial upped their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $257.36.

Tesla Company Profile

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.