Lakeshore Capital Group Inc. Acquires 70 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lakeshore Capital Group Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the first quarter, HoldingsChannel.com reports. The firm owned 3,564 shares of the electric vehicle producer’s stock after purchasing an additional 70 shares during the quarter. Lakeshore Capital Group Inc.’s holdings in Tesla were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC increased its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter worth about $38,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $344.27 on Wednesday. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 168.76, a PEG ratio of 5.86 and a beta of 2.43. The business has a 50-day simple moving average of $289.75 and a 200 day simple moving average of $334.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 866,393 shares of company stock worth $284,570,654 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TSLA shares. Wedbush reaffirmed an “outperform” rating and set a $500.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Friday, May 23rd. Argus set a $410.00 price target on Tesla in a research report on Thursday, April 24th. Robert W. Baird decreased their price objective on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $293.97.

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.