Blue Zone Wealth Advisors LLC Boosts Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Blue Zone Wealth Advisors LLC increased its stake in Tesla, Inc. by 23.2%, owning 9,544 shares worth $3,032,000 at the end of the most recent quarter.
• Insider transactions revealed significant sales, including SVP Xiaotong Zhu selling 20,000 shares for $7,275,000, marking a 29.59% decrease in ownership.
• Tesla's stock has faced a decline of 5.1%, with current trading at $413.49 and a twelve-month trading range between $212.11 and $488.54.

Blue Zone Wealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,544 shares of the electric vehicle producer's stock after buying an additional 1,795 shares during the quarter. Blue Zone Wealth Advisors LLC's holdings in Tesla were worth $3,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. boosted its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new position in shares of Tesla in the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after buying an additional 6,435,598 shares during the last quarter. Amundi boosted its holdings in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Down 5.1%

Shares of TSLA opened at $413.49 on Friday. The business's 50-day moving average price is $375.97 and its 200-day moving average price is $327.89. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 15.01 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSLA. Benchmark restated a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. China Renaissance restated a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $354.67.

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.

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