Kiker Wealth Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 696 shares of the electric vehicle producer’s stock after selling 46 shares during the quarter. Kiker Wealth Management LLC’s holdings in Tesla were worth $221,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.
Tesla Trading Down 1.5%
Shares of Tesla stock opened at $429.24 on Wednesday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock’s 50-day simple moving average is $380.91 and its 200 day simple moving average is $330.17. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 248.12, a P/E/G ratio of 15.71 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.
Wall Street Analysts Forecast Growth
TSLA has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Guggenheim reiterated a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Industrial Alliance Securities set a $300.00 target price on Tesla in a research note on Monday. Finally, Evercore ISI lifted their target price on Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $363.03.
View Our Latest Research Report on Tesla
Insider Buying and Selling at Tesla
In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was 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 owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. 19.90% of the stock is currently owned by corporate insiders.
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.
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