Tesla, Inc. (NASDAQ:TSLA) Shares Sold by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 14,438 shares of the electric vehicle producer’s stock after selling 1,052 shares during the period. KMG Fiduciary Partners LLC’s holdings in Tesla were worth $5,831,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TSLA. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the third quarter valued at approximately $35,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Royal Bank of Canada boosted their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Barclays increased their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $299.33.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $426.50 on Friday. The business’s 50-day simple moving average is $389.94 and its 200-day simple moving average is $288.09. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.