Kathmere Capital Management LLC Acquires 1,181 Shares of Tesla, Inc. $TSLA

Key Points

• Kathmere Capital Management LLC increased its stake in Tesla by 18.0%, acquiring an additional 1,181 shares, bringing its total holdings to 7,736 shares worth approximately $2.46 million.
• Analysts have provided mixed ratings on Tesla, with prices targets ranging from $120.00 to $440.00, while the stock currently holds an average rating of "Hold" with a consensus target price of $332.33.
• Insider trading activity has been notable, with significant sales made by senior executives, including a sale of 20,000 shares by SVP Xiaotong Zhu valued at approximately $7.27 million, reflecting a decrease in their positions.

Kathmere Capital Management LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,736 shares of the electric vehicle producer's stock after acquiring an additional 1,181 shares during the period. Kathmere Capital Management LLC's holdings in Tesla were worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. increased its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on TSLA shares. HSBC reaffirmed a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Morgan Stanley reissued an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Stifel Nicolaus set a $440.00 price objective on Tesla in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a report on Friday. Finally, Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $332.33.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last 90 days. 19.90% of the stock is currently owned by company insiders.

Tesla Price Performance

Tesla stock opened at $440.40 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business's 50 day simple moving average is $352.05 and its 200 day simple moving average is $314.88. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 15.36 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the firm earned $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.