Lifeworks Advisors LLC Boosts Stake in Tesla, Inc. $TSLA

Lifeworks Advisors LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,883 shares of the electric vehicle producer’s stock after buying an additional 275 shares during the period. Lifeworks Advisors LLC’s holdings in Tesla were worth $916,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Merchants Corp grew its stake in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares during the period. Alaska Wealth Advisors boosted its holdings in Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth grew its position in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its stake in Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its holdings in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on TSLA shares. President Capital upped their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI upped their price target on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. The Goldman Sachs Group cut their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Finally, HSBC increased their price target on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $390.27.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Up 3.7%

Shares of TSLA stock opened at $456.56 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company’s fifty day moving average price is $410.52 and its 200-day moving average price is $348.12. The company has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.