LVW Advisors LLC Grows Position in Tesla, Inc. $TSLA

Key Points

• LVW Advisors LLC increased its stake in Tesla, Inc. by 22.7% in Q2, now holding 8,212 shares valued at approximately $2.61 million.
• Wall Street analysts have raised their price targets for Tesla, with Deutsche Bank targeting $435 and Wedbush setting a target of $600 amid positive sentiment.
• Insiders have sold significant amounts of Tesla stock recently, with CFO Vaibhav Taneja selling 2,606 shares valued at over $918k, leading to a 20.91% decrease in their ownership.

LVW Advisors LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,212 shares of the electric vehicle producer's stock after purchasing an additional 1,519 shares during the period. LVW Advisors LLC's holdings in Tesla were worth $2,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Kiley Juergens Wealth Management LLC lifted its position in Tesla by 1.3% during the second quarter. Kiley Juergens Wealth Management LLC now owns 15,766 shares of the electric vehicle producer's stock valued at $5,008,000 after purchasing an additional 197 shares in the last quarter. Cahaba Wealth Management Inc. purchased a new position in Tesla during the second quarter valued at $241,000. Independent Wealth Network Inc. lifted its position in Tesla by 15.3% during the second quarter. Independent Wealth Network Inc. now owns 3,880 shares of the electric vehicle producer's stock valued at $1,232,000 after purchasing an additional 515 shares in the last quarter. TRU Independence Asset Management 2 LLC purchased a new position in Tesla during the second quarter valued at $213,000. Finally, Townsend Asset Management Corp NC ADV bought a new stake in Tesla during the second quarter valued at about $200,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TSLA. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday. Wedbush raised their price target on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Friday. William Blair reissued a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Benchmark reissued a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Bank of America raised their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $332.33.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 over the last ninety days. 19.90% of the stock is owned by insiders.

Tesla Trading Up 4.0%

Shares of NASDAQ TSLA opened at $440.40 on Monday. The business's 50 day moving average is $352.05 and its two-hundred day moving average is $315.40. 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 stock has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a PEG ratio of 15.36 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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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