Trueblood Wealth Management LLC Invests $408,000 in Tesla, Inc. (NASDAQ:TSLA)

Trueblood Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,011 shares of the electric vehicle producer’s stock, valued at approximately $408,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC boosted its holdings in 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 acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Tesla in the 3rd quarter valued at about $29,000. 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 acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new position in Tesla during the third quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. increased its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 621,886 shares of company stock valued at $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $424.07 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market cap of $1.36 trillion, a PE ratio of 116.18, a price-to-earnings-growth ratio of 8.60 and a beta of 2.30. The firm has a fifty day moving average price of $391.47 and a 200 day moving average price of $290.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 company 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%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TSLA shares. UBS Group increased 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. The Goldman Sachs Group boosted their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and raised their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Finally, Piper Sandler increased their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $304.94.

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.