KFG Wealth Management LLC Increases Stake in Tesla, Inc. $TSLA

KFG Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,485 shares of the electric vehicle producer’s stock after purchasing an additional 52 shares during the quarter. KFG Wealth Management LLC’s holdings in Tesla were worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSLA. Brighton Jones LLC grew its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Tesla during the 4th quarter valued at about $346,000. Bison Wealth LLC lifted its stake in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after acquiring an additional 3,558 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Tesla by 53.8% during the 4th quarter. Mackenzie Financial Corp now owns 429,860 shares of the electric vehicle producer’s stock valued at $173,595,000 after acquiring an additional 150,438 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last quarter. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. Dbs Bank upped their target price on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research note on Friday, September 5th. Wedbush restated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Monday, September 15th. Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, China Renaissance restated a “hold” rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $317.70.

Tesla Trading Up 2.2%

Shares of TSLA opened at $426.07 on Monday. The firm has a market cap of $1.42 trillion, a P/E ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a 50 day simple moving average of $340.68 and a two-hundred day simple moving average of $308.67.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.