Kestra Investment Management LLC Makes New $875,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Kestra Investment Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,344 shares of the electric vehicle producer’s stock, valued at approximately $875,000.

Several other hedge funds have also added to or reduced their stakes in the business. Alerus Financial NA raised its position in shares of Tesla by 16.0% during the third quarter. Alerus Financial NA now owns 45,922 shares of the electric vehicle producer’s stock worth $12,015,000 after purchasing an additional 6,339 shares during the period. FSA Wealth Management LLC acquired a new stake in Tesla during the 3rd quarter worth approximately $3,674,000. Cobblestone Capital Advisors LLC NY bought a new position in Tesla in the third quarter valued at approximately $246,000. Tradition Wealth Management LLC boosted its holdings in shares of Tesla by 17.4% in the third quarter. Tradition Wealth Management LLC now owns 7,490 shares of the electric vehicle producer’s stock valued at $1,960,000 after buying an additional 1,108 shares during the period. Finally, Kitching Partners LLC bought a new stake in Tesla in the 3rd quarter valued at $201,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 3.7 %

Shares of NASDAQ:TSLA opened at $345.16 on Monday. The business’s 50 day simple moving average is $274.55 and its 200 day simple moving average is $232.59. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.11 trillion, a P/E ratio of 94.56, a P/E/G ratio of 11.21 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. Barclays increased their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Wedbush reissued an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research report on Monday, November 18th. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Piper Sandler increased their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $231.06.

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.