LRI Investments LLC Has $358,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

LRI Investments LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 217.4% during the 2nd quarter, Holdings Channel reports. The fund owned 1,809 shares of the electric vehicle producer’s stock after buying an additional 1,239 shares during the period. LRI Investments LLC’s holdings in Tesla were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC lifted its holdings in shares of Tesla by 6.2% in the 2nd quarter. EdgeRock Capital LLC now owns 5,991 shares of the electric vehicle producer’s stock worth $1,185,000 after purchasing an additional 349 shares in the last quarter. EWA LLC raised its holdings in Tesla by 13.1% during the second quarter. EWA LLC now owns 3,487 shares of the electric vehicle producer’s stock worth $690,000 after buying an additional 404 shares during the last quarter. Family Firm Inc. bought a new position in shares of Tesla in the second quarter valued at $70,000. TrueWealth Advisors LLC grew its holdings in shares of Tesla by 17.6% during the second quarter. TrueWealth Advisors LLC now owns 4,588 shares of the electric vehicle producer’s stock valued at $908,000 after buying an additional 686 shares during the last quarter. Finally, Keynote Financial Services LLC increased its position in shares of Tesla by 2.9% during the second quarter. Keynote Financial Services LLC now owns 2,408 shares of the electric vehicle producer’s stock worth $476,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the 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 sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TSLA shares. Argus reaffirmed a “buy” rating and issued a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Glj Research upped their price target on Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Royal Bank of Canada dropped 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. Finally, KGI Securities reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $204.21.

Tesla Stock Performance

Shares of TSLA stock opened at $220.32 on Friday. The firm’s 50 day moving average is $219.46 and its 200 day moving average is $192.14. The stock has a market capitalization of $702.64 billion, a P/E ratio of 56.20, a PEG ratio of 5.60 and a beta of 2.31. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the firm earned $0.78 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current 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.