LifeWealth Investments LLC Increases Holdings in Tesla, Inc. $TSLA

LifeWealth Investments LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,081 shares of the electric vehicle producer’s stock after purchasing an additional 1,330 shares during the quarter. LifeWealth Investments LLC’s holdings in Tesla were worth $1,614,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. First Merchants Corp increased its position in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. Alaska Wealth Advisors boosted its stake in Tesla by 3.4% in the 2nd 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 period. KWB Wealth boosted its stake 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. boosted its stake in Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its stake in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. Barclays reiterated a “negative” rating and set a $350.00 price target (up previously from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Evercore ISI lifted their price target on Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research report on Monday, October 13th. Melius Research set a $520.00 price target on Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Mizuho boosted their target price on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Finally, Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $366.95.

Tesla Price Performance

Shares of Tesla stock opened at $438.97 on Thursday. 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 one year low of $212.11 and a one year high of $488.54. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 253.74, a price-to-earnings-growth ratio of 15.91 and a beta of 2.08. The business’s 50 day simple moving average is $393.73 and its two-hundred day simple moving average is $336.97.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, 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 transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Company 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.