Lodestone Wealth Management LLC Has $717,000 Stock Position in Tesla, Inc. $TSLA

Lodestone Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,258 shares of the electric vehicle producer’s stock after purchasing an additional 273 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Tesla were worth $717,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Chelsea Counsel Co. boosted its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $29,000. Evergreen Private Wealth LLC boosted its position in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Glynn Capital Management LLC acquired a new stake in shares of Tesla during the second quarter worth $35,000. Finally, LSV Asset Management grew its stake in shares of Tesla by 400.0% during the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 96 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $403.82 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 269.21, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The stock’s 50-day moving average is $433.12 and its 200-day moving average is $363.32. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter last year, the firm earned $0.72 EPS. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities 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 a number of recent analyst reports. President Capital upped their price target on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. BNP Paribas Exane began coverage on shares of Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target on the stock. Finally, Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $394.31.

Insider Activity

In other 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Insiders own 19.90% of the company’s stock.

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.