Kelman Lazarov Inc. Has $2.69 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Kelman Lazarov Inc. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,650 shares of the electric vehicle producer’s stock after selling 182 shares during the quarter. Kelman Lazarov Inc.’s holdings in Tesla were worth $2,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Principal Financial Group Inc. lifted its stake in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. MidWestOne Financial Group Inc. raised its position in shares of Tesla by 7.4% in the third quarter. MidWestOne Financial Group Inc. now owns 3,562 shares of the electric vehicle producer’s stock worth $932,000 after buying an additional 244 shares in the last quarter. Chiron Investment Management LLC raised its position in shares of Tesla by 63.9% in the third quarter. Chiron Investment Management LLC now owns 6,130 shares of the electric vehicle producer’s stock worth $1,604,000 after buying an additional 2,389 shares in the last quarter. Continental Investors Services Inc. raised its position in Tesla by 0.4% during the third quarter. Continental Investors Services Inc. now owns 11,295 shares of the electric vehicle producer’s stock valued at $2,914,000 after purchasing an additional 49 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in Tesla by 52.5% during the third quarter. Toronto Dominion Bank now owns 1,691,928 shares of the electric vehicle producer’s stock valued at $442,659,000 after purchasing an additional 582,738 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the topic of several recent analyst reports. Mizuho cut their target price on Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. Royal Bank of Canada dropped their price target on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Barclays boosted their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Guggenheim cut their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $301.40.

Tesla Trading Up 22.7 %

Shares of Tesla stock opened at $272.20 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $875.54 billion, a P/E ratio of 133.43, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business’s 50 day moving average is $290.62 and its 200-day moving average is $323.14.

Tesla (NASDAQ:TSLA) last announced 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%. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last ninety days. 20.70% of the stock is currently owned by 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.