Blue Zone Wealth Advisors LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Blue Zone Wealth Advisors LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,536 shares of the electric vehicle producer’s stock after selling 360 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Tesla were worth $1,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. M&R Capital Management Inc. lifted its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Kessler Investment Group LLC boosted its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and boosted their target price for the company from $147.00 to $197.00 in a report on Friday, July 12th. Barclays decreased their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Piper Sandler increased their target price on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $210.90.

Tesla Stock Down 3.7 %

Shares of NASDAQ:TSLA opened at $240.83 on Tuesday. The firm has a market capitalization of $768.05 billion, a P/E ratio of 61.44, a P/E/G ratio of 6.79 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a 50 day moving average price of $224.00 and a 200-day moving average price of $201.78. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.74 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. Insiders own 25.10% of the company’s stock.

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.