Trueblood Wealth Management LLC Purchases 944 Shares of Tesla, Inc. (NASDAQ:TSLA)

Trueblood Wealth Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 93.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,955 shares of the electric vehicle producer's stock after acquiring an additional 944 shares during the period. Trueblood Wealth Management LLC's holdings in Tesla were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TSLA. Vanguard Group Inc. boosted its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank bought a new position in Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC grew its position in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $293.67.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 818,509 shares of company stock worth $273,791,775. Company insiders own 20.70% of the company's stock.

Tesla Stock Up 0.1%

NASDAQ TSLA traded up $0.45 during trading hours on Thursday, reaching $326.88. 56,167,092 shares of the company's stock traded hands, compared to its average volume of 100,511,405. Tesla, Inc. has a 52-week low of $169.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a 50-day simple moving average of $295.60 and a 200 day simple moving average of $333.11. The firm has a market cap of $1.05 trillion, a PE ratio of 160.24, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.