KFA Private Wealth Group LLC Reduces Stock Position in Tesla, Inc. $TSLA

KFA Private Wealth Group LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072 shares of the electric vehicle producer’s stock after selling 101 shares during the period. KFA Private Wealth Group LLC’s holdings in Tesla were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in TSLA. Means Investment CO. Inc. lifted its holdings in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Siren L.L.C. acquired a new position in Tesla in the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC lifted its holdings in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new position in Tesla in the first quarter valued at approximately $594,000. Finally, Strs Ohio acquired a new position in Tesla in the first quarter valued at approximately $205,495,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research note on Wednesday. HSBC upped their price target on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Canaccord Genuity Group upped their price target on Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $354.67.

Tesla Stock Down 5.1%

Tesla stock opened at $413.49 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock’s fifty day simple moving average is $375.97 and its 200-day simple moving average is $327.89. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.37 trillion, a P/E ratio of 239.01, a P/E/G ratio of 15.01 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by insiders.

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.