Lauterbach Financial Advisors LLC Invests $226,000 in Tesla, Inc. (NASDAQ:TSLA)

Lauterbach Financial Advisors LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,089 shares of the electric vehicle producer’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. LJI Wealth Management LLC purchased a new stake in shares of Tesla in the second quarter worth about $391,000. Intrepid Financial Planning Group LLC purchased a new position in Tesla in the second quarter valued at about $223,000. Paces Ferry Wealth Advisors LLC boosted its holdings in Tesla by 8.4% in the second quarter. Paces Ferry Wealth Advisors LLC now owns 4,370 shares of the electric vehicle producer’s stock valued at $865,000 after purchasing an additional 340 shares during the last quarter. Sienna Gestion boosted its holdings in Tesla by 0.6% in the second quarter. Sienna Gestion now owns 68,542 shares of the electric vehicle producer’s stock valued at $13,557,000 after purchasing an additional 405 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in Tesla in the second quarter valued at about $1,680,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TSLA shares. Citigroup reduced their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, June 10th. Royal Bank of Canada cut their price objective on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Truist Financial restated a “hold” rating and set a $215.00 price objective on shares of Tesla in a research note on Wednesday, August 14th. Finally, China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Stock Performance

TSLA opened at $227.20 on Thursday. The firm has a market cap of $725.82 billion, a PE ratio of 57.96, a P/E/G ratio of 6.00 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $221.44 and a 200-day simple moving average of $195.15. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

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.