Kingsview Wealth Management LLC Grows Position in Tesla, Inc. $TSLA

Kingsview Wealth Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,714 shares of the electric vehicle producer’s stock after buying an additional 2,045 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Tesla were worth $23,706,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC grew its stake in shares of Tesla by 1.1% in the 3rd quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock valued at $923,000 after purchasing an additional 23 shares during the last quarter. PFS Partners LLC grew its stake in shares of Tesla by 4.2% in the 4th quarter. PFS Partners LLC now owns 590 shares of the electric vehicle producer’s stock valued at $265,000 after purchasing an additional 24 shares during the last quarter. Bank of Jackson Hole Trust grew its stake in shares of Tesla by 1.0% in the 3rd quarter. Bank of Jackson Hole Trust now owns 2,497 shares of the electric vehicle producer’s stock valued at $1,110,000 after purchasing an additional 25 shares during the last quarter. Presidio Capital Management LLC grew its stake in shares of Tesla by 0.6% in the 3rd quarter. Presidio Capital Management LLC now owns 3,996 shares of the electric vehicle producer’s stock valued at $1,777,000 after purchasing an additional 25 shares during the last quarter. Finally, Journey Advisory Group LLC grew its stake in shares of Tesla by 0.7% in the 3rd quarter. Journey Advisory Group LLC now owns 3,414 shares of the electric vehicle producer’s stock valued at $1,518,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here’s Why ‘Lens Cleaning System’ May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Tigress Financial initiated coverage on Tesla in a research note on Monday, April 27th. They issued a “buy” rating on the stock. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research note on Thursday, April 23rd. Jefferies Financial Group reiterated a “neutral” rating on shares of Tesla in a research note on Wednesday, April 22nd. UBS Group lifted their target price on Tesla from $352.00 to $364.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $510.00 target price on shares of Tesla in a research note on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $395.20.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 57,482 shares of company stock valued at $21,508,331. 19.90% of the stock is currently owned by insiders.

Tesla Stock Up 1.6%

TSLA opened at $440.36 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The business has a 50 day simple moving average of $390.12 and a 200-day simple moving average of $416.18. The stock has a market capitalization of $1.65 trillion, a P/E ratio of 404.00, a P/E/G ratio of 17.12 and a beta of 1.79. Tesla, Inc. has a 12 month low of $273.21 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.