LRI Investments LLC Buys 754 Shares of Tesla, Inc. $TSLA

Key Points

• LRI Investments LLC increased its stake in Tesla, Inc. by 25.1%, acquiring an additional 754 shares, bringing their total holdings to 3,756 shares worth approximately $1.19 million.
• Multiple analysts have raised their price targets for Tesla stock, with Canaccord Genuity Group setting a target of $490 and Goldman Sachs adjusting theirs to $425, while the average target remains $363.03.
• Insider transactions saw Director James R. Murdoch sell 60,000 shares at an average price of $422.68, resulting in an 8.61% reduction in his position.

LRI Investments LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,756 shares of the electric vehicle producer's stock after acquiring an additional 754 shares during the quarter. LRI Investments LLC's holdings in Tesla were worth $1,193,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Means Investment CO. Inc. lifted its position in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Siren L.L.C. bought a new position in Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC lifted its position in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after acquiring an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new position in Tesla in the 1st quarter valued at about $594,000. Finally, Strs Ohio bought a new position in Tesla in the 1st quarter valued at about $205,495,000. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TSLA shares. Canaccord Genuity Group increased their price objective on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Dbs Bank increased their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. The Goldman Sachs Group increased their price objective on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. William Blair reiterated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $363.03.

Tesla Stock Up 5.4%

Tesla stock opened at $435.90 on Tuesday. The firm has a 50 day simple moving average of $378.50 and a 200 day simple moving average of $329.48. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly 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). The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction 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 sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% 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 valued at $75,588,902. Insiders own 19.90% of the company's stock.

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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