Laffer Tengler Investments Inc. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Laffer Tengler Investments Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,873 shares of the electric vehicle producer’s stock after acquiring an additional 447 shares during the period. Laffer Tengler Investments Inc.’s holdings in Tesla were worth $1,708,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wyrmwood Management LLC purchased a new stake in Tesla during the 4th quarter worth $25,000. Lam Group Inc. purchased a new position in shares of Tesla during the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC grew its position in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its stake in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Finally, Advisors Preferred LLC bought a new position in Tesla during the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $275.00 target price on shares of Tesla in a research note on Monday, April 29th. HSBC dropped their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. TD Cowen lowered their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. Finally, Evercore ISI dropped their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $185.90.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 302,803 shares of company stock valued at $56,124,840. Corporate insiders own 25.10% of the company’s stock.

Tesla Trading Up 1.5 %

Shares of Tesla stock traded up $2.62 during trading on Friday, hitting $177.46. The stock had a trading volume of 77,257,875 shares, compared to its average volume of 101,576,266. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $565.96 billion, a PE ratio of 45.23, a P/E/G ratio of 4.80 and a beta of 2.41. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The stock has a 50 day simple moving average of $170.77 and a 200 day simple moving average of $202.59.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, research analysts expect that Tesla, Inc. will post 1.89 EPS for the current fiscal year.

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.