Lansing Street Advisors Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Lansing Street Advisors lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,959 shares of the electric vehicle producer’s stock after purchasing an additional 42 shares during the quarter. Lansing Street Advisors’ holdings in Tesla were worth $508,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Von Berge Wealth Management Group LLC grew its position in Tesla by 12.5% in the 1st quarter. Von Berge Wealth Management Group LLC now owns 6,745 shares of the electric vehicle producer’s stock valued at $1,750,000 after buying an additional 750 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in Tesla by 8.6% in the first quarter. Clear Creek Financial Management LLC now owns 13,440 shares of the electric vehicle producer’s stock valued at $3,483,000 after buying an additional 1,069 shares in the last quarter. Hapanowicz & Associates Financial Services Inc raised its holdings in Tesla by 25.3% during the first quarter. Hapanowicz & Associates Financial Services Inc now owns 1,532 shares of the electric vehicle producer’s stock worth $397,000 after purchasing an additional 309 shares during the last quarter. BLB&B Advisors LLC boosted its position in shares of Tesla by 20.9% in the 1st quarter. BLB&B Advisors LLC now owns 5,858 shares of the electric vehicle producer’s stock worth $1,518,000 after buying an additional 1,012 shares in the last quarter. Finally, RKL Wealth Management LLC grew its position in shares of Tesla by 8.1% in the first quarter. RKL Wealth Management LLC now owns 10,749 shares of the electric vehicle producer’s stock valued at $2,786,000 after purchasing an additional 806 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research report on Tuesday. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $298.37.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by insiders.

Tesla Stock Down 5.3%

Shares of NASDAQ:TSLA opened at $300.71 on Wednesday. The company’s fifty day moving average is $317.99 and its two-hundred day moving average is $328.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The stock has a market capitalization of $968.57 billion, a price-to-earnings ratio of 165.23, a price-to-earnings-growth ratio of 12.06 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the company earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.