Blackhawk Capital Partners LLC. Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Blackhawk Capital Partners LLC. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 102.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,598 shares of the electric vehicle producer’s stock after acquiring an additional 2,827 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Tesla were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. lifted its position in Tesla by 2.7% during the third quarter. Pacer Advisors Inc. now owns 297,722 shares of the electric vehicle producer’s stock valued at $77,893,000 after purchasing an additional 7,966 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Tesla by 61.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock worth $30,151,000 after purchasing an additional 43,950 shares during the last quarter. Integrated Investment Consultants LLC bought a new stake in Tesla during the third quarter valued at approximately $280,000. Cypress Capital Group increased its stake in shares of Tesla by 10.3% in the 3rd quarter. Cypress Capital Group now owns 3,094 shares of the electric vehicle producer’s stock worth $809,000 after purchasing an additional 288 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its holdings in Tesla by 11.8% in the 3rd quarter. Cornerstone Advisors LLC now owns 170,100 shares of the electric vehicle producer’s stock worth $44,503,000 after purchasing an additional 18,000 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $342.03 on Thursday. 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’s 50-day simple moving average is $259.42 and its 200-day simple moving average is $224.12. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The firm has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 93.71, a PEG ratio of 11.24 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 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler raised their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $230.18.

Tesla 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.