Lodestone Wealth Management LLC Purchases 273 Shares of Tesla, Inc. $TSLA

Lodestone Wealth Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,258 shares of the electric vehicle producer’s stock after purchasing an additional 273 shares during the period. Lodestone Wealth Management LLC’s holdings in Tesla were worth $717,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares during the period. Geode Capital Management LLC raised its stake in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after buying an additional 1,269,304 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the period. Finally, Amundi increased its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $403.82 on Thursday. The firm has a 50-day moving average price of $433.12 and a two-hundred day moving average price of $363.32. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a market capitalization of $1.34 trillion, a P/E ratio of 269.21, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

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

Analysts Set New Price Targets

A number of equities analysts have commented on TSLA shares. Melius Research set a $520.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research report on Monday, October 13th. CICC Research raised their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Dbs Bank raised shares of Tesla to a “hold” rating in a report on Wednesday, November 5th. Finally, Barclays restated a “negative” rating and set a $350.00 price objective (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $394.31.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last three months. Corporate 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.