Lauer Wealth LLC Has $8.34 Million Stake in Tesla, Inc. $TSLA

Lauer Wealth LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,602 shares of the electric vehicle producer’s stock after selling 3,268 shares during the period. Tesla makes up about 7.0% of Lauer Wealth LLC’s portfolio, making the stock its 6th largest position. Lauer Wealth LLC’s holdings in Tesla were worth $8,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC grew its stake in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Tesla by 2.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 13,423 shares of the electric vehicle producer’s stock valued at $3,479,000 after purchasing an additional 276 shares during the last quarter. Finally, Picton Mahoney Asset Management lifted its position in shares of Tesla by 104.7% during the first quarter. Picton Mahoney Asset Management now owns 24,849 shares of the electric vehicle producer’s stock valued at $6,441,000 after purchasing an additional 552,969 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was 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 owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,606 shares of company stock worth $33,554,102 in the last quarter. 19.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Mizuho set a $475.00 target price on Tesla and gave the company an “outperform” rating in a report on Tuesday. Melius began coverage on Tesla in a report on Monday, October 13th. They set a “buy” rating and a $520.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Finally, Roth Capital set a $505.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $394.03.

Tesla Stock Up 0.4%

TSLA opened at $419.40 on Wednesday. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a market cap of $1.39 trillion, a PE ratio of 279.60, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $433.66 and a 200 day moving average of $367.35.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.