Keynote Financial Services LLC Sells 78 Shares of Tesla, Inc. (NASDAQ:TSLA)

Keynote Financial Services LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,186 shares of the electric vehicle producer’s stock after selling 78 shares during the period. Keynote Financial Services LLC’s holdings in Tesla were worth $567,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TSLA. Rinkey Investments grew its position in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after acquiring an additional 29 shares during the period. True Wealth Design LLC grew its position in shares of Tesla by 79.5% during 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. Aldebaran Financial Inc. grew its position in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after acquiring an additional 35 shares during the period. Acorn Wealth Advisors LLC grew its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after acquiring an additional 36 shares during the period. Finally, Capital Management Associates Inc grew its position in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after acquiring an additional 38 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Argus reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Canaccord Genuity Group raised their price target on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada reaffirmed an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $303.31.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 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 at this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company’s stock, valued at $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,724 shares of company stock worth $215,376,831. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $319.91 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.92, a PEG ratio of 10.85 and a beta of 2.33. The company’s 50 day simple moving average is $319.80 and its 200 day simple moving average is $309.56. Tesla, Inc. has a 1 year low of $191.48 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS 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.