Kowal Investment Group LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Kowal Investment Group LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,072 shares of the electric vehicle producer’s stock after selling 111 shares during the quarter. Kowal Investment Group LLC’s holdings in Tesla were worth $806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Merriman Wealth Management LLC lifted its holdings in shares of Tesla by 5.8% in the 2nd quarter. Merriman Wealth Management LLC now owns 13,349 shares of the electric vehicle producer’s stock valued at $2,641,000 after purchasing an additional 728 shares during the last quarter. Symmetry Investments LP increased its position in Tesla by 326.6% during the second quarter. Symmetry Investments LP now owns 8,536 shares of the electric vehicle producer’s stock worth $1,689,000 after buying an additional 6,535 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Tesla by 62.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock valued at $4,015,000 after buying an additional 7,804 shares during the last quarter. Legacy Financial Advisors Inc. boosted its holdings in shares of Tesla by 34.8% in the second quarter. Legacy Financial Advisors Inc. now owns 15,408 shares of the electric vehicle producer’s stock valued at $3,049,000 after acquiring an additional 3,978 shares during the period. Finally, Clean Energy Transition LLP grew its position in shares of Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 2.3 %

Shares of TSLA opened at $238.25 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a 50 day simple moving average of $221.30 and a 200-day simple moving average of $195.94. The stock has a market cap of $759.83 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth ratio of 6.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. William Blair started coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, September 5th. Finally, HSBC lifted their target price on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $209.60.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

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.