Luts & Greenleigh Group Inc. Takes $367,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Luts & Greenleigh Group Inc. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,855 shares of the electric vehicle producer’s stock, valued at approximately $367,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Integris Wealth Management LLC raised its position in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the last quarter. Echo Wealth Management LLC lifted its stake in Tesla by 0.7% in 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 in the last quarter. WASHINGTON TRUST Co boosted its holdings in shares of Tesla by 3.2% during the 2nd 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 last quarter. Bellevue Asset Management LLC grew its position 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 valued at $568,000 after purchasing an additional 45 shares in the last quarter. Finally, Cypress Capital Group increased its holdings in shares of Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TSLA shares. KGI Securities restated a “neutral” rating and set a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Royal Bank of Canada lowered their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Trading Down 1.5 %

TSLA opened at $226.78 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $222.85 and its two-hundred day moving average is $194.75. The company has a market capitalization of $723.25 billion, a P/E ratio of 57.85, a PEG ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

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.