Kavar Capital Partners Group LLC Sells 801 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kavar Capital Partners Group LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,128 shares of the electric vehicle producer's stock after selling 801 shares during the period. Kavar Capital Partners Group LLC's holdings in Tesla were worth $551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rinkey Investments lifted its position in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares in the last quarter. Ndwm LLC raised its stake in shares of Tesla by 0.8% in the fourth quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer's stock worth $1,439,000 after buying an additional 30 shares during the period. Bell Investment Advisors Inc lifted its position in shares of Tesla by 1.3% during the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after buying an additional 30 shares in the last quarter. Pitti Group Wealth Management LLC grew its stake in shares of Tesla by 2.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after acquiring an additional 31 shares during the period. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the transaction, the chief financial officer now owns 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 in the last quarter. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on TSLA shares. UBS Group lifted their price target on shares of Tesla from $190.00 to $215.00 and gave the company a "sell" rating in a report on Monday. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Friday, June 20th. Finally, Guggenheim reaffirmed a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Monday. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $298.37.

Tesla Stock Down 0.5%

NASDAQ TSLA opened at $325.78 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 179.00, a PEG ratio of 12.25 and a beta of 2.47. The company has a fifty day moving average of $313.28 and a two-hundred day moving average of $331.01.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.

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