Kestra Investment Management LLC Sells 2,765 Shares of Tesla, Inc. $TSLA

Kestra Investment Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 27.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,316 shares of the electric vehicle producer’s stock after selling 2,765 shares during the quarter. Kestra Investment Management LLC’s holdings in Tesla were worth $2,324,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TSLA. Chapman Financial Group LLC bought a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% in the first 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. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the 2nd quarter valued at $29,000. CoreFirst Bank & Trust bought a new position in shares of Tesla during the 2nd quarter worth $30,000. Finally, ESL Trust Services LLC increased its holdings in Tesla by 1,900.0% in the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research reports. Stifel Nicolaus increased their target price on shares of Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a report on Monday, October 13th. Melius assumed coverage on Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 price target for the company. Finally, UBS Group reiterated a “sell” rating on shares of Tesla in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $399.33.

Tesla Price Performance

Tesla stock opened at $458.96 on Friday. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 305.97, a PEG ratio of 15.50 and a beta of 1.87. 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 business has a 50-day simple moving average of $435.52 and a 200 day simple moving average of $376.29. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 119,457 shares of company stock valued at $52,137,945 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Tesla Company 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.