Kelly Financial Services LLC Has $336,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Kelly Financial Services LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 23.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,296 shares of the electric vehicle producer’s stock after purchasing an additional 243 shares during the quarter. Kelly Financial Services LLC’s holdings in Tesla were worth $336,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TSLA. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC grew its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA grew its position in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp grew its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock valued at $273,791,775 in the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $326.43 on Thursday. The company has a 50 day moving average of $295.60 and a 200 day moving average of $333.11. The stock has a market cap of $1.05 trillion, a P/E ratio of 160.02, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12 month low of $169.80 and a 12 month high of $488.54. 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 (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. HSBC reduced their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Royal Bank of Canada cut their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Baird R W downgraded shares of Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $293.67.

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.