TKG Advisors LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

TKG Advisors LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,525 shares of the electric vehicle producer’s stock after selling 90 shares during the quarter. TKG Advisors LLC’s holdings in Tesla were worth $379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Holderness Investments Co. boosted its stake in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares during the period. SCS Capital Management LLC boosted its stake in Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after purchasing an additional 45 shares during the period. Daymark Wealth Partners LLC boosted its stake in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the period. Cravens & Co Advisors LLC boosted its stake in Tesla by 1.2% in the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares during the period. Finally, Patten & Patten Inc. TN boosted its stake in Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 target price on shares of Tesla in a research report on Wednesday. China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They set a “hold” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Wednesday. Guggenheim restated a “sell” rating and set a $122.00 price target on shares of Tesla in a report on Tuesday, April 23rd. Finally, Evercore ISI decreased their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $185.90.

View Our Latest Report on TSLA

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of Tesla stock traded down $4.46 on Friday, reaching $178.01. 82,038,194 shares of the stock were exchanged, compared to its average volume of 68,882,416. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The firm has a market capitalization of $567.71 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 4.53 and a beta of 2.32. The business has a 50 day moving average price of $172.90 and a two-hundred day moving average price of $195.68.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

About Tesla

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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