Tesla, Inc. (NASDAQ:TSLA) Holdings Increased by Kelly Financial Services LLC

Kelly Financial Services LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,118 shares of the electric vehicle producer’s stock after acquiring an additional 76 shares during the quarter. Kelly Financial Services LLC’s holdings in Tesla were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Heritage Wealth Partners LLC acquired a new stake in shares of Tesla in the third quarter valued at $678,000. Perpetual Ltd bought a new stake in Tesla in the third quarter worth about $655,000. Enterprise Bank & Trust Co bought a new stake in Tesla in the third quarter worth about $346,000. Sanibel Captiva Trust Company Inc. boosted its position in shares of Tesla by 15.0% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 27,102 shares of the electric vehicle producer’s stock valued at $7,091,000 after purchasing an additional 3,530 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Tesla by 12.5% in the 3rd quarter. Wedmont Private Capital now owns 39,107 shares of the electric vehicle producer’s stock worth $9,418,000 after purchasing an additional 4,337 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and increased their target price for the company from $147.00 to $197.00 in a research note on Friday, July 12th. The Goldman Sachs Group decreased their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Wolfe Research began coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $210.90.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % 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. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % 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 business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 1.4 %

Tesla stock opened at $241.05 on Thursday. The company’s 50-day moving average price is $224.79 and its two-hundred day moving average price is $203.05. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $770.07 billion, a P/E ratio of 61.49, a P/E/G ratio of 6.80 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Tesla 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.