LifeWealth Investments LLC Buys 1,659 Shares of Tesla, Inc. (NASDAQ:TSLA)

LifeWealth Investments LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 79.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,751 shares of the electric vehicle producer's stock after buying an additional 1,659 shares during the period. LifeWealth Investments LLC's holdings in Tesla were worth $972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wealth Group Ltd. acquired a new position in shares of Tesla in the 4th quarter worth approximately $275,000. Tallon Kerry Patrick bought a new position in Tesla during the fourth quarter worth $374,000. Eagle Capital Management LLC acquired a new position in Tesla in the fourth quarter valued at $331,000. Brighton Jones LLC boosted its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last three months. Corporate insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Roth Mkm dropped their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Raymond James Financial downgraded Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Benchmark restated a "buy" rating and set a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $293.67.

Tesla Stock Performance

Shares of TSLA stock opened at $316.73 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a 50-day moving average of $302.42 and a 200-day moving average of $332.66. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54. The company has a market cap of $1.02 trillion, a P/E ratio of 174.03, a P/E/G ratio of 12.36 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the business posted $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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