Kestra Private Wealth Services LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kestra Private Wealth Services LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,034 shares of the electric vehicle producer's stock after purchasing an additional 7,085 shares during the period. Tesla comprises about 0.8% of Kestra Private Wealth Services LLC's investment portfolio, making the stock its 20th biggest holding. Kestra Private Wealth Services LLC's holdings in Tesla were worth $45,621,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew 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 worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank lifted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC grew 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 acquired a new position in Tesla during the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC raised its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 3.2%

TSLA stock traded up $10.24 during mid-day trading on Friday, reaching $329.65. The company had a trading volume of 93,904,102 shares, compared to its average volume of 98,929,970. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 181.13, a PEG ratio of 12.56 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock has a 50 day simple moving average of $326.27 and a two-hundred day simple moving average of $317.30.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last ninety days. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Glj Research reiterated a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Benchmark reissued a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $300.19.

Tesla 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.