Kestra Advisory Services LLC Sells 19,271 Shares of Tesla, Inc. $TSLA

Key Points

• Kestra Advisory Services LLC sold 19,271 shares of Tesla, reducing its holdings by 7.7% to 232,161 shares, valued at approximately $60.17 million.
• A variety of institutional investors increased their stakes in Tesla during the first quarter, with significant growth from RPG Investment Advisory LLC, which raised its stake by 120.5%.
• Analysts have mixed ratings on Tesla's stock, with a consensus rating of "Hold" and a price target of $303.31, reflecting differing outlooks on the company's future performance.

Kestra Advisory Services LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,161 shares of the electric vehicle producer's stock after selling 19,271 shares during the period. Kestra Advisory Services LLC's holdings in Tesla were worth $60,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Laffer Tengler Investments Inc. grew its stake in Tesla by 20.0% in the 1st quarter. Laffer Tengler Investments Inc. now owns 13,970 shares of the electric vehicle producer's stock valued at $3,620,000 after buying an additional 2,331 shares in the last quarter. Purus Wealth Management LLC grew its position in shares of Tesla by 2.8% in the first quarter. Purus Wealth Management LLC now owns 6,223 shares of the electric vehicle producer's stock valued at $1,613,000 after purchasing an additional 168 shares in the last quarter. RPG Investment Advisory LLC raised its stake in shares of Tesla by 120.5% during the 1st quarter. RPG Investment Advisory LLC now owns 3,482 shares of the electric vehicle producer's stock valued at $902,000 after purchasing an additional 1,903 shares during the period. D.B. Root & Company LLC lifted its holdings in Tesla by 5.6% during the 1st quarter. D.B. Root & Company LLC now owns 4,367 shares of the electric vehicle producer's stock worth $1,132,000 after purchasing an additional 232 shares in the last quarter. Finally, Gould Capital LLC boosted its stake in Tesla by 37.7% in the 1st quarter. Gould Capital LLC now owns 230 shares of the electric vehicle producer's stock worth $60,000 after purchasing an additional 63 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Benchmark reissued a "buy" rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a report on Monday, August 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Performance

NASDAQ TSLA opened at $320.11 on Friday. The company has a market capitalization of $1.03 trillion, a P/E ratio of 185.03, a P/E/G ratio of 11.26 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. The company has a fifty day moving average of $320.98 and a 200-day moving average of $303.96.

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

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock worth $213,126,501 in the last three months. Corporate insiders own 20.70% of the company's stock.

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.

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.