BlueChip Wealth Advisors LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

BlueChip Wealth Advisors LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 954 shares of the electric vehicle producer's stock, valued at approximately $247,000.

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Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. Navigoe LLC acquired a new stake in Tesla in the fourth quarter valued at $37,000. CoreFirst Bank & Trust acquired a new stake in Tesla in the fourth quarter valued at $38,000. Finally, Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $303.00 price target on shares of Tesla in a report on Monday, June 30th. Cantor Fitzgerald set a $355.00 price target on shares of Tesla and gave the company an "overweight" rating in a report on Monday. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Piper Sandler reiterated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Finally, Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $298.97.

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Check Out Our Latest Research Report on Tesla

Tesla Trading Up 0.7%

TSLA traded up $2.19 during midday trading on Tuesday, reaching $330.68. 37,708,925 shares of the company were exchanged, compared to its average volume of 98,603,224. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 181.92, a PEG ratio of 12.56 and a beta of 2.39. The stock's 50-day simple moving average is $326.27 and its 200 day simple moving average is $316.26.

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Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm earned $0.45 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.

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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