Luts & Greenleigh Group Inc. Invests $367,000 in Tesla, Inc. (NASDAQ:TSLA)

Luts & Greenleigh Group Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,855 shares of the electric vehicle producer’s stock, valued at approximately $367,000.

A number of other large investors have also added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the fourth quarter valued at approximately $37,000. Kessler Investment Group LLC raised its holdings in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares in the last quarter. Finally, Aspect Partners LLC lifted its stake in Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TSLA. Argus restated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $254.00 target price on shares of Tesla in a report on Friday. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, September 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $209.60.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Trading Down 1.5 %

Shares of TSLA stock opened at $226.78 on Tuesday. The stock has a market capitalization of $723.25 billion, a P/E ratio of 57.85, a P/E/G ratio of 6.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $222.85 and its 200 day moving average is $194.75. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $0.78 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Tesla 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.