Kovack Advisors Inc. Has $5.24 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Kovack Advisors Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,210 shares of the electric vehicle producer's stock after selling 4,720 shares during the quarter. Kovack Advisors Inc.'s holdings in Tesla were worth $5,238,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla during the fourth quarter worth $56,600,000. Means Investment CO. Inc. lifted its holdings in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in Tesla during the fourth quarter valued at $8,158,000. Institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on 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 sale, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 835,509 shares of company stock valued at $279,420,485. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 3.5%

Shares of TSLA stock traded up $10.76 on Friday, hitting $316.06. 147,437,834 shares of the stock were exchanged, compared to its average volume of 90,285,424. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.02 trillion, a P/E ratio of 182.69, a price-to-earnings-growth ratio of 12.00 and a beta of 2.39. The business has a 50-day moving average of $324.70 and a 200 day moving average of $314.09. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two 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 earnings per share 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 analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Wedbush restated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday, July 22nd. Roth Mkm decreased their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, HSBC reaffirmed a "reduce" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $302.75.

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.