Lighthouse Financial LLC Reduces Holdings in Tesla, Inc. $TSLA

Lighthouse Financial LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,232 shares of the electric vehicle producer’s stock after selling 629 shares during the quarter. Lighthouse Financial LLC’s holdings in Tesla were worth $709,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of TSLA. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.5% during 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Finally, Amundi raised its position in shares of 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 buying an additional 3,814,610 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Mizuho raised their price objective on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Piper Sandler upped their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Truist Financial increased their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Finally, New Street Research lifted their price target on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $394.31.

Tesla Stock Performance

Shares of TSLA stock opened at $408.92 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.36 trillion, a PE ratio of 272.61, a P/E/G ratio of 16.84 and a beta of 2.06. The company’s fifty day simple moving average is $430.92 and its 200-day simple moving average is $362.23. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, 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 $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was 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 owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

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.