Lakeshore Capital Group Inc. Acquires 92 Shares of Tesla, Inc. $TSLA

Lakeshore Capital Group Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,656 shares of the electric vehicle producer’s stock after purchasing an additional 92 shares during the quarter. Lakeshore Capital Group Inc.’s holdings in Tesla were worth $1,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Abel Hall LLC grew its position in shares of Tesla by 23.3% in the 2nd quarter. Abel Hall LLC now owns 3,989 shares of the electric vehicle producer’s stock worth $1,267,000 after buying an additional 755 shares during the last quarter. Spectrum Asset Management Inc. NB CA grew its position in shares of Tesla by 6.3% in the 2nd quarter. Spectrum Asset Management Inc. NB CA now owns 978 shares of the electric vehicle producer’s stock worth $311,000 after buying an additional 58 shares during the last quarter. Mainsail Asset Management LLC grew its position in shares of Tesla by 1.4% in the 2nd quarter. Mainsail Asset Management LLC now owns 3,786 shares of the electric vehicle producer’s stock worth $1,203,000 after buying an additional 51 shares during the last quarter. REAP Financial Group LLC grew its position in shares of Tesla by 52.6% in the 2nd quarter. REAP Financial Group LLC now owns 862 shares of the electric vehicle producer’s stock worth $274,000 after buying an additional 297 shares during the last quarter. Finally, Sax Wealth Advisors LLC grew its position in shares of Tesla by 40.1% in the 2nd quarter. Sax Wealth Advisors LLC now owns 4,795 shares of the electric vehicle producer’s stock worth $1,523,000 after buying an additional 1,373 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 1.3%

TSLA stock opened at $438.69 on Thursday. The firm’s fifty day simple moving average is $371.20 and its 200-day simple moving average is $325.56. The company has a market capitalization of $1.46 trillion, a P/E ratio of 253.58, a price-to-earnings-growth ratio of 15.92 and a beta of 2.08. 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 12 month low of $212.11 and a 12 month high of $488.54.

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

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last three months. Company insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. CICC Research lifted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Stifel Nicolaus set a $483.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $355.00 target price on shares of Tesla in a research report on Friday, October 3rd. Finally, Mizuho boosted their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $345.70.

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.