Blackston Financial Advisory Group LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Blackston Financial Advisory Group LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 84.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,139 shares of the electric vehicle producer’s stock after selling 11,665 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in Tesla were worth $560,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Integris Wealth Management LLC grew its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its stake in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Echo Wealth Management LLC increased its holdings in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co raised its stake in Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC lifted its holdings in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on 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 $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $256.57 on Friday. 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 company has a 50-day moving average of $228.54 and a 200-day moving average of $206.41. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The firm has a market cap of $819.65 billion, a price-to-earnings ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 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 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Wednesday. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Barclays dropped their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Finally, TD Cowen lifted their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $218.18.

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.