Kestra Private Wealth Services LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kestra Private Wealth Services LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 168,949 shares of the electric vehicle producer’s stock after selling 4,594 shares during the period. Tesla comprises about 1.2% of Kestra Private Wealth Services LLC’s portfolio, making the stock its 9th biggest holding. Kestra Private Wealth Services LLC’s holdings in Tesla were worth $68,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. bought a new position in shares of Tesla during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the last quarter. Finley Financial LLC bought a new stake in Tesla in the 4th quarter valued at $64,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Tesla by 136.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock valued at $80,000 after purchasing an additional 176 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 2.4 %

Shares of TSLA opened at $336.51 on Thursday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market capitalization of $1.08 trillion, a P/E ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. The firm’s 50 day simple moving average is $407.68 and its 200 day simple moving average is $306.23.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 635,776 shares of company stock valued at $231,335,112. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. The Goldman Sachs Group increased their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 price target on shares of Tesla in a report on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company boosted their price target on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $326.50.

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.