Kovack Advisors Inc. Sells 1,371 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kovack Advisors Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,572 shares of the electric vehicle producer’s stock after selling 1,371 shares during the period. Kovack Advisors Inc.’s holdings in Tesla were worth $5,121,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Integris Wealth Management LLC lifted its holdings in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its stake in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC lifted its holdings in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares in the last quarter. Essex Savings Bank boosted its stake in Tesla by 1.4% in the 3rd quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after purchasing an additional 44 shares during the period. Finally, WASHINGTON TRUST Co grew its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,797 shares of company stock worth $19,211,821. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.0 %

Tesla stock traded up $3.17 during mid-day trading on Wednesday, reaching $331.66. The stock had a trading volume of 49,056,313 shares, compared to its average volume of 95,484,711. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The company has a 50-day moving average price of $246.26 and a two-hundred day moving average price of $218.16. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 90.00, a PEG ratio of 11.37 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Phillip Securities upgraded Tesla to a “moderate sell” rating in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $225.06.

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.