Tesla, Inc. $TSLA Shares Sold by Lowery Thomas LLC

Lowery Thomas LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,687 shares of the electric vehicle producer’s stock after selling 560 shares during the period. Lowery Thomas LLC’s holdings in Tesla were worth $854,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its position in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares during the period. Siren L.L.C. acquired a new stake in shares of Tesla during the 1st quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC boosted its stake in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new stake in shares of Tesla in the 1st quarter worth approximately $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last quarter. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $459.46 on Thursday. The business’s 50-day moving average price is $359.13 and its 200 day moving average price is $318.62. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a market capitalization of $1.53 trillion, a PE ratio of 265.58, a price-to-earnings-growth ratio of 15.46 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on TSLA. Stifel Nicolaus set a $440.00 target price on Tesla in a research report on Friday, September 5th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Canaccord Genuity Group lifted their target price on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wedbush upped their price target on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $337.15.

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.