LRI Investments LLC Acquires New Stake in Tesla, Inc. (NASDAQ:TSLA)

LRI Investments LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,814 shares of the electric vehicle producer’s stock, valued at approximately $312,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Apexium Financial LP increased its holdings in Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD increased its holdings in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares during the period. Forum Financial Management LP increased its holdings in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after acquiring an additional 6,615 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its position in shares of Tesla by 9.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after acquiring an additional 598 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, July 18th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. Piper Sandler upped their price objective on Tesla from $205.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, KGI Securities reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research report on Thursday. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $204.30.

Tesla Price Performance

NASDAQ TSLA traded down $0.45 during mid-day trading on Friday, hitting $219.80. The stock had a trading volume of 94,604,145 shares, compared to its average volume of 132,509,544. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The company has a market cap of $702.18 billion, a price-to-earnings ratio of 56.07, a P/E/G ratio of 5.50 and a beta of 2.31. The company has a 50 day simple moving average of $205.68 and a 200 day simple moving average of $190.93. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 1.85 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

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.