LexAurum Advisors LLC Purchases 1,180 Shares of Tesla, Inc. $TSLA

Key Points

• LexAurum Advisors LLC increased its stake in Tesla by 22.1%, acquiring an additional 1,180 shares, bringing its total holdings to 6,508 shares valued at approximately $2,067,000.
• A significant number of institutional investors have also modified their positions in Tesla stock, with some increasing their stakes by as much as 67.3%.
• According to research reports, analysts have a consensus rating of "Hold" for Tesla, with an average target price of $337.15, highlighting varied perspectives on its future performance.

LexAurum Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,508 shares of the electric vehicle producer's stock after acquiring an additional 1,180 shares during the period. LexAurum Advisors LLC's holdings in Tesla were worth $2,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Smith Chas P & Associates PA Cpas grew its position in shares of Tesla by 34.3% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 1,545 shares of the electric vehicle producer's stock valued at $491,000 after acquiring an additional 395 shares during the period. Elser Financial Planning Inc bought a new position in shares of Tesla in the 2nd quarter valued at about $294,000. Cyr Financial Inc. grew its position in shares of Tesla by 67.3% in the 2nd quarter. Cyr Financial Inc. now owns 3,166 shares of the electric vehicle producer's stock valued at $1,006,000 after acquiring an additional 1,274 shares during the period. Oakworth Capital Inc. grew its position in shares of Tesla by 37.9% in the 2nd quarter. Oakworth Capital Inc. now owns 1,887 shares of the electric vehicle producer's stock valued at $599,000 after acquiring an additional 519 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC grew its position in shares of Tesla by 18.7% in the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 3,736 shares of the electric vehicle producer's stock valued at $1,187,000 after acquiring an additional 588 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. China Renaissance restated a "hold" rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Wedbush raised their target price on shares of Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Piper Sandler raised their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Finally, Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research note on Friday, September 5th. Two equities research 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 data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $337.15.

Tesla Price Performance

Shares of Tesla stock opened at $444.72 on Wednesday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $356.59 and a two-hundred day simple moving average of $317.64. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 257.06, a price-to-earnings-growth ratio of 15.46 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were 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 directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is currently owned by corporate insiders.

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.

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