Lewis Asset Management LLC Has $1.05 Million Stock Position in Tesla, Inc. $TSLA

Key Points

• Lewis Asset Management LLC increased its Tesla stock position by 57.5% to 3,289 shares, valued at approximately $1.05 million, during the second quarter.
• Goldman Sachs Group Inc. significantly boosted its Tesla holdings by 322.1% in the first quarter, acquiring over 20 million additional shares, now worth nearly $6.89 billion.
• Tesla reported revenue of $22.5 billion for the last quarter, which fell short of analyst estimates, alongside an earnings per share figure of $0.40, missing expectations by $0.03.

Lewis Asset Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 57.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,289 shares of the electric vehicle producer's stock after purchasing an additional 1,201 shares during the period. Lewis Asset Management LLC's holdings in Tesla were worth $1,045,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Acorn Wealth Advisors LLC increased its holdings in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd increased its stake in shares of Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after purchasing an additional 36 shares in the last quarter. ACT Wealth Management LLC boosted its holdings in Tesla by 0.7% in the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after purchasing an additional 36 shares during the last quarter. Capital Management Associates Inc boosted its stake in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after acquiring an additional 38 shares during the last quarter. Finally, Graney & King LLC increased its holdings in Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after acquiring an additional 38 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $324.53.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at $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. Over the last ninety days, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company's stock.

Tesla Stock Up 1.9%

TSLA stock traded up $8.14 during trading on Monday, reaching $434.21. 96,526,944 shares of the stock were exchanged, compared to its average volume of 86,280,128. The firm has a market cap of $1.44 trillion, a P/E ratio of 250.99, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $343.03 and its 200 day moving average is $309.87. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm's revenue was down 11.8% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.