LRI Investments LLC Purchases 754 Shares of Tesla, Inc. $TSLA

LRI Investments LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 25.1% during the second quarter, Holdings Channel.com reports. The firm owned 3,756 shares of the electric vehicle producer’s stock after acquiring an additional 754 shares during the quarter. LRI Investments LLC’s holdings in Tesla were worth $1,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the first quarter valued at approximately $27,000. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. grew its holdings in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $435.90 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.45 trillion, a P/E ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. The firm’s fifty day moving average is $378.50 and its two-hundred day moving average is $329.48. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business’s revenue was down 11.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Mizuho increased their price target on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Benchmark restated a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Canaccord Genuity Group raised their target price on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Evercore ISI raised their target price on shares of Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a report on Monday. Finally, Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $363.03.

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.