Lpwm LLC Buys 882 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lpwm LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 83.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,934 shares of the electric vehicle producer’s stock after acquiring an additional 882 shares during the quarter. Lpwm LLC’s holdings in Tesla were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Federated Hermes Inc. increased its position in Tesla by 13.3% in the 3rd quarter. Federated Hermes Inc. now owns 82,508 shares of the electric vehicle producer’s stock valued at $20,645,000 after acquiring an additional 9,676 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Tesla by 10.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,073 shares of the electric vehicle producer’s stock worth $1,019,000 after purchasing an additional 370 shares during the period. Cadence Bank grew its holdings in Tesla by 10.8% in the third quarter. Cadence Bank now owns 2,013 shares of the electric vehicle producer’s stock worth $504,000 after purchasing an additional 196 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Tesla by 38.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 105,279 shares of the electric vehicle producer’s stock worth $26,343,000 after purchasing an additional 29,314 shares during the period. Finally, Morse Asset Management Inc grew its holdings in Tesla by 4.2% in the third quarter. Morse Asset Management Inc now owns 11,976 shares of the electric vehicle producer’s stock worth $2,997,000 after purchasing an additional 481 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Mizuho dropped their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Guggenheim reissued a “sell” rating and set a $126.00 price target on shares of Tesla in a research report on Tuesday. Finally, UBS Group dropped their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $187.30.

Tesla Trading Up 4.8 %

TSLA traded up $9.02 during trading on Wednesday, hitting $196.37. 95,407,381 shares of the stock traded hands, compared to its average volume of 95,510,969. The firm has a market capitalization of $626.26 billion, a P/E ratio of 50.09, a price-to-earnings-growth ratio of 4.65 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a 50-day moving average of $175.02 and a 200 day moving average of $192.25. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Equities research analysts anticipate that Tesla, Inc. will post 1.87 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the company’s 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 completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’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 sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is currently owned by corporate insiders.

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.