LifeWealth Investments LLC Takes $845,000 Position in Tesla, Inc. (NASDAQ:TSLA)

LifeWealth Investments LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 2,092 shares of the electric vehicle producer's stock, valued at approximately $845,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC increased its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $5.99 during mid-day trading on Wednesday, hitting $356.90. The stock had a trading volume of 89,957,761 shares, compared to its average volume of 107,543,867. The stock has a market cap of $1.15 trillion, a price-to-earnings ratio of 174.95, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company's 50 day simple moving average is $281.93 and its 200 day simple moving average is $333.59.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $350.11, for a total value of $1,050,330.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $9,435,464.50. This represents a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,623 shares of company stock valued at $116,650,831 in the last three months. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Guggenheim reaffirmed a "sell" rating and issued a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Mizuho upped their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $293.97.

Tesla 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.