Key Client Fiduciary Advisors LLC Purchases 2,337 Shares of Tesla, Inc. $TSLA

Key Points

• Key Client Fiduciary Advisors LLC increased its stake in Tesla, Inc. by 16.8%, acquiring an additional 2,337 shares during Q2, bringing its total holdings to 16,282 shares valued at approximately $5.17 million.
• Insider trading activity included CFO Vaibhav Taneja selling 2,606 shares and Director James R. Murdoch selling 120,000 shares, both resulting in significant decreases in their stock positions.
• Tesla's recent quarterly earnings report indicated an EPS of $0.40, missing expectations, with revenues declining 11.8% year-over-year, illustrating ongoing challenges amidst fluctuating market conditions.

Key Client Fiduciary Advisors LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,282 shares of the electric vehicle producer's stock after purchasing an additional 2,337 shares during the quarter. Tesla makes up approximately 2.1% of Key Client Fiduciary Advisors LLC's portfolio, making the stock its 11th largest holding. Key Client Fiduciary Advisors LLC's holdings in Tesla were worth $5,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Acorn Wealth Advisors LLC boosted its holdings in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd lifted its stake in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after acquiring an additional 36 shares during the last quarter. ACT Wealth Management LLC lifted its stake in shares of Tesla by 0.7% in the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock valued at $1,717,000 after acquiring an additional 36 shares during the last quarter. Capital Management Associates Inc lifted its stake in shares of Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after acquiring an additional 38 shares during the last quarter. Finally, Graney & King LLC lifted its stake in shares of Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,606 shares of company stock worth $51,999,662 in the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Trading Up 3.6%

TSLA opened at $410.04 on Tuesday. The stock has a market cap of $1.32 trillion, a PE ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $331.21 and a 200-day moving average of $304.53. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.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% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of a number of recent research reports. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Stifel Nicolaus set a $440.00 price target on Tesla in a research report on Friday, September 5th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $303.00.

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.

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