LRI Investments LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

LRI Investments LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the first quarter, Holdings Channel reports. The firm bought 1,814 shares of the electric vehicle producer’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Patten & Patten Inc. TN boosted its position in shares of Tesla by 1.1% during the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares in the last quarter. Caerus Investment Advisors LLC boosted its position in shares of Tesla by 0.3% during the fourth quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after purchasing an additional 49 shares in the last quarter. Monte Financial Group LLC lifted its position in Tesla by 3.4% in the 4th quarter. Monte Financial Group LLC now owns 1,526 shares of the electric vehicle producer’s stock valued at $379,000 after acquiring an additional 50 shares in the last quarter. Washburn Capital Management Inc. lifted its position in Tesla by 1.7% in the 4th quarter. Washburn Capital Management Inc. now owns 2,990 shares of the electric vehicle producer’s stock valued at $743,000 after acquiring an additional 50 shares in the last quarter. Finally, Davis R M Inc. lifted its position in Tesla by 0.7% in the 4th quarter. Davis R M Inc. now owns 6,991 shares of the electric vehicle producer’s stock valued at $1,737,000 after acquiring an additional 52 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

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

Tesla Stock Performance

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

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the company posted $0.78 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 1.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several research reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Piper Sandler boosted their price objective on shares of Tesla from $205.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday. Evercore ISI cut their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, April 29th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, July 16th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $204.30.

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.