Kovack Advisors Inc. Buys 3,913 Shares of Tesla, Inc. $TSLA

Kovack Advisors Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,123 shares of the electric vehicle producer’s stock after acquiring an additional 3,913 shares during the period. Tesla makes up approximately 0.8% of Kovack Advisors Inc.’s holdings, making the stock its 23rd largest holding. Kovack Advisors Inc.’s holdings in Tesla were worth $7,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at approximately $27,000. Chelsea Counsel Co. increased its holdings in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. Centennial Bank AR increased its holdings in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares during the period. LGT Financial Advisors LLC bought a new stake in Tesla in the 2nd quarter valued at $29,000. Finally, Compass Wealth Management LLC increased its holdings in Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after buying an additional 90 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. HSBC upped their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. BNP Paribas Exane assumed coverage on Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective on the stock. CICC Research upped their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Tesla in a research report on Monday, October 20th. Finally, Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $388.51.

Tesla Stock Down 4.6%

Shares of NASDAQ:TSLA opened at $440.10 on Friday. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company’s 50-day moving average price is $408.19 and its two-hundred day moving average price is $346.05. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.46 trillion, a P/E ratio of 293.40, a P/E/G ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

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.