Kelman Lazarov Inc. Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kelman Lazarov Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,650 shares of the electric vehicle producer’s stock after selling 182 shares during the period. Kelman Lazarov Inc.’s holdings in Tesla were worth $2,686,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. MidWestOne Financial Group Inc. lifted its holdings in Tesla by 7.4% during the third quarter. MidWestOne Financial Group Inc. now owns 3,562 shares of the electric vehicle producer’s stock worth $932,000 after buying an additional 244 shares during the period. Chiron Investment Management LLC lifted its holdings in Tesla by 63.9% during the third quarter. Chiron Investment Management LLC now owns 6,130 shares of the electric vehicle producer’s stock worth $1,604,000 after buying an additional 2,389 shares during the period. Continental Investors Services Inc. lifted its holdings in Tesla by 0.4% during the third quarter. Continental Investors Services Inc. now owns 11,295 shares of the electric vehicle producer’s stock worth $2,914,000 after buying an additional 49 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in Tesla by 52.5% during the third quarter. Toronto Dominion Bank now owns 1,691,928 shares of the electric vehicle producer’s stock worth $442,659,000 after buying an additional 582,738 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSLA shares. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. HSBC reduced their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price target on shares of Tesla in a research report on Monday, March 17th. Wedbush reduced their price target on Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, UBS Group reduced their price target on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $301.40.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 22.7 %

TSLA stock opened at $272.20 on Thursday. The company’s 50-day simple moving average is $290.62 and its 200-day simple moving average is $323.14. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $875.54 billion, a P/E ratio of 133.43, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.