Lodestar Private Asset Management LLC Sells 1,215 Shares of Tesla, Inc. $TSLA

Key Points

• Lodestar Private Asset Management LLC has reduced its Tesla holdings by 34.1%, now owning 2,346 shares valued at approximately $745,000.
• Tesla's latest quarterly earnings report showed an earnings per share (EPS) of $0.40, falling short of analyst predictions of $0.43, with revenue declining 11.8% year-over-year.
• Analysts have set new price targets for Tesla, with Wedbush raising it to $600 and Piper Sandler to $500, amidst a mix of ratings that include two "Strong Buy" and thirteen "Hold."

Lodestar Private Asset Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 34.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,346 shares of the electric vehicle producer's stock after selling 1,215 shares during the quarter. Lodestar Private Asset Management LLC's holdings in Tesla were worth $745,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. Finally, Chelsea Counsel Co. grew its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 5.1%

Shares of TSLA opened at $413.49 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a 50 day simple moving average of $375.97 and a two-hundred day simple moving average of $328.28. The firm has a market cap of $1.37 trillion, a P/E ratio of 239.01, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the business earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TSLA shares. Piper Sandler boosted their price target on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. China Renaissance restated a "hold" rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Wedbush boosted their price target on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $354.67.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction 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. This represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by 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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