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

Kestra Private Wealth Services LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,949 shares of the electric vehicle producer’s stock after selling 4,594 shares during the quarter. Tesla makes up approximately 1.2% of Kestra Private Wealth Services LLC’s holdings, making the stock its 9th biggest holding. Kestra Private Wealth Services LLC’s holdings in Tesla were worth $68,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Hengehold Capital Management LLC boosted its holdings in shares of Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares in the last quarter. Strategic Investment Advisors MI grew its holdings in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the last quarter. Acropolis Investment Management LLC increased its stake in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its position in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares in the last quarter. Finally, Prospect Financial Services LLC grew its holdings in Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after acquiring an additional 26 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 2.4 %

TSLA opened at $336.51 on Thursday. The firm’s fifty day simple moving average is $407.68 and its 200 day simple moving average is $306.23. The stock 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 company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, research analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TSLA shares. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Morgan Stanley lifted their target price on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus cut their price target on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Benchmark began coverage on Tesla in a research report on Wednesday. They issued a “buy” rating and a $475.00 price objective for the company. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $326.50.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were 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 approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 635,776 shares of company stock valued at $231,335,112 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

About Tesla

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.