Kestra Investment Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Kestra Investment Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, Holdings Channel reports. The fund purchased 3,344 shares of the electric vehicle producer’s stock, valued at approximately $875,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connable Office Inc. grew its holdings in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the last quarter. Holistic Financial Partners increased its holdings in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the period. Integris Wealth Management LLC raised its position in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the period. Finally, Altman Advisors Inc. grew its position in shares of Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after buying an additional 43 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $36,761,200. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 3.7 %

NASDAQ TSLA opened at $345.16 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.11 trillion, a P/E ratio of 94.56, a PEG ratio of 11.21 and a beta of 2.29. The business has a fifty day simple moving average of $274.55 and a 200 day simple moving average of $232.59. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. William Blair assumed coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Piper Sandler lifted their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $231.06.

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.