Tesla, Inc. $TSLA Shares Purchased by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its holdings in Tesla, Inc. by 77.4% during the first quarter, owning a total of 10,081 shares valued at approximately $2.61 million.
• Other investors, including Knightsbridge Asset Management LLC and Temasek Holdings, have also increased their stakes in Tesla, contributing to institutional investors holding 66.20% of the company’s stock.
• Despite a miss in quarterly earnings with $0.40 EPS compared to the expected $0.43, Tesla's stock maintains a consensus rating of "Hold" and an average price target of $303.31.

Kestra Investment Management LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 77.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,081 shares of the electric vehicle producer's stock after acquiring an additional 4,398 shares during the quarter. Kestra Investment Management LLC's holdings in Tesla were worth $2,613,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Knightsbridge Asset Management LLC grew its stake in shares of Tesla by 22.6% during the first quarter. Knightsbridge Asset Management LLC now owns 1,795 shares of the electric vehicle producer's stock valued at $465,000 after buying an additional 331 shares during the last quarter. Legacy Wealth Managment LLC ID grew its stake in Tesla by 13.4% in the first quarter. Legacy Wealth Managment LLC ID now owns 1,008 shares of the electric vehicle producer's stock worth $261,000 after purchasing an additional 119 shares in the last quarter. Temasek Holdings Private Ltd grew its stake in Tesla by 23.2% in the first quarter. Temasek Holdings Private Ltd now owns 109,890 shares of the electric vehicle producer's stock worth $28,479,000 after purchasing an additional 20,700 shares in the last quarter. Talon Private Wealth LLC grew its stake in Tesla by 1.4% in the first quarter. Talon Private Wealth LLC now owns 2,844 shares of the electric vehicle producer's stock worth $737,000 after purchasing an additional 39 shares in the last quarter. Finally, Rise Advisors LLC grew its stake in Tesla by 12.8% in the first quarter. Rise Advisors LLC now owns 2,930 shares of the electric vehicle producer's stock worth $759,000 after purchasing an additional 332 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Wedbush restated an "outperform" rating and set a $500.00 target price on shares of Tesla in a report on Monday, August 4th. Bank of America upped their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Benchmark restated a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Morgan Stanley restated an "overweight" rating and set a $410.00 target price on shares of Tesla in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $303.00.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla 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 transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,000 shares of company stock worth $48,663,510 in the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Stock Up 0.1%

Shares of TSLA traded up $0.34 during midday trading on Tuesday, hitting $346.74. 15,094,206 shares of the company's stock traded hands, compared to its average volume of 102,709,594. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm's fifty day moving average is $324.57 and its 200-day moving average is $301.95. 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 stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 200.16, a price-to-earnings-growth ratio of 12.24 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, sell-side analysts anticipate 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.