Sound Income Strategies LLC Increases Position in Tesla Inc. (NASDAQ:TSLA)

Sound Income Strategies LLC, an institutional investor, has reported raising its position in Tesla, Inc. (NASDAQ:TSLA) by 14.5% during the second quarter. The firm now owns 4,036 shares of Tesla’s stock, worth $1,057,000. Other hedge funds have also modified their holdings of the company, including Lakewood Asset Management LLC, Alpha Paradigm Partners LLC, GW&K Investment Management LLC, MayTech Global Investments LLC, and St. Johns Investment Management Company LLC.

Insider buying and selling activity at Tesla has been monitored as well. SVP Xiaotong Zhu recently sold 2,500 shares of Tesla stock, while SVP Andrew D. Baglino sold 10,500 shares. Overall, insiders sold 55,815 shares of company stock in the last quarter.

In terms of stock performance, Tesla’s share price opened at $274.39 on Friday. The stock has a 50-day simple moving average of $255.83 and a two-hundred day simple moving average of $220.68. Tesla has a market capitalization of $870.91 billion and a P/E ratio of 77.73.

Tesla recently reported quarterly earnings, with $0.91 earnings per share, surpassing analysts’ consensus estimates of $0.69. The company’s revenue for the quarter was $24.93 billion, beating analyst estimates as well.

Multiple equities analysts have provided ratings for Tesla, and the consensus rating is currently “Hold.” However, some analysts have increased their price targets for the company, including Jefferies Financial Group, KGI Securities, Wedbush, and Bank of America.

– Sound Income Strategies LLC Raises Holdings in Tesla Inc. (NASDAQ:TSLA) –