Blue Zone Wealth Advisors LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Blue Zone Wealth Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 4.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,805 shares of the electric vehicle producer’s stock after selling 285 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Tesla were worth $1,196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $25,000. Lam Group Inc. acquired a new position in Tesla in the 4th quarter valued at about $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the 4th quarter valued at about $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in Tesla in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $0.46 on Friday, hitting $197.88. The company had a trading volume of 95,438,068 shares, compared to its average volume of 68,945,696. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The business has a 50 day moving average of $177.80 and a 200 day moving average of $191.38. The company has a market cap of $631.08 billion, a PE ratio of 50.48, a PEG ratio of 4.91 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. As a group, equities analysts anticipate that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock worth $19,285,643 over the last three months. 25.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, June 20th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Wednesday, April 24th. Wells Fargo & Company decreased their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, April 12th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $187.30.

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.