Oliver Lagore Vanvalin Investment Group Invests $794,000 in Tesla, Inc. $TSLA

Oliver Lagore Vanvalin Investment Group purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,500 shares of the electric vehicle producer’s stock, valued at approximately $794,000.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi boosted its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after acquiring an additional 2,211,300 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is owned by insiders.

Tesla Price Performance

TSLA opened at $426.07 on Friday. The stock has a 50-day moving average price of $340.68 and a 200-day moving average price of $308.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.42 trillion, a PE ratio of 246.28, a P/E/G ratio of 14.54 and a beta of 2.06. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Mizuho lowered their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Argus reissued a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $320.00 to $548.00 in a research report on Friday. Finally, Wedbush reissued an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $317.70.

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.