Kowal Investment Group LLC Sells 676 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kowal Investment Group LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,396 shares of the electric vehicle producer’s stock after selling 676 shares during the quarter. Kowal Investment Group LLC’s holdings in Tesla were worth $888,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Integris Wealth Management LLC grew its position in shares of Tesla by 1.0% during the 2nd 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 in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its position in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares in the last quarter. Echo Wealth Management LLC increased its stake in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC boosted its position in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.8 %

Shares of TSLA stock opened at $221.33 on Thursday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a market cap of $707.07 billion, a P/E ratio of 62.17, a P/E/G ratio of 5.94 and a beta of 2.29. The stock has a 50 day moving average of $226.81 and a 200 day moving average of $204.69. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock worth $16,663,291. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. KGI Securities reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Tesla in a report on Thursday, July 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Guggenheim raised their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Truist Financial boosted their target price on Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $210.72.

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.