Lazari Capital Management Inc. Has $2.18 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Lazari Capital Management Inc. grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,003 shares of the electric vehicle producer’s stock after buying an additional 399 shares during the quarter. Tesla accounts for about 1.0% of Lazari Capital Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Lazari Capital Management Inc.’s holdings in Tesla were worth $2,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank & Trust Co bought a new stake in Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. OLD Point Trust & Financial Services N A bought a new stake in Tesla in the fourth quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC raised its stake in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TSLA shares. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. The Goldman Sachs Group lowered their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Piper Sandler increased their target price on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $209.90.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was 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 directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Down 1.4 %

Shares of NASDAQ:TSLA opened at $258.02 on Wednesday. The firm has a market cap of $824.28 billion, a P/E ratio of 65.82, a P/E/G ratio of 7.08 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The business has a fifty day simple moving average of $222.33 and a 200 day simple moving average of $200.24.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (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 during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.