Lord & Richards Wealth Management LLC Makes New $274,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Lord & Richards Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,057 shares of the electric vehicle producer's stock, valued at approximately $274,000.

Several other large investors have also bought and sold shares of the business. True Wealth Design LLC boosted its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. boosted its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter valued at about $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Canaccord Genuity Group reissued a "buy" rating and set a $303.00 price target on shares of Tesla in a research note on Monday, June 30th. Glj Research reissued a "sell" rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $300.19.

Tesla Stock Up 3.5%

Shares of NASDAQ TSLA traded up $10.89 during midday trading on Wednesday, hitting $321.67. 96,688,793 shares of the stock traded hands, compared to its average volume of 99,116,733. The company has a market cap of $1.04 trillion, a PE ratio of 176.74, a P/E/G ratio of 9.26 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The business has a 50 day moving average price of $324.95 and a two-hundred day moving average price of $318.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on 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 directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

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.