Lansing Street Advisors Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Lansing Street Advisors lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,852 shares of the electric vehicle producer’s stock after buying an additional 72 shares during the quarter. Lansing Street Advisors’ holdings in Tesla were worth $485,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Integris Wealth Management LLC grew its stake in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the last quarter. Echo Wealth Management LLC grew its position in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its stake in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the period. Finally, Bellevue Asset Management LLC boosted its stake in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock valued at $3,065,866 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 0.3 %

NASDAQ:TSLA opened at $248.98 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market cap of $799.24 billion, a PE ratio of 68.21, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29. The stock’s 50-day moving average is $234.14 and its two-hundred day moving average is $211.15. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TSLA shares. Bank of America lifted their price objective on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Piper Sandler boosted their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Mizuho raised their price target on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $219.45.

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.