KPP Advisory Services LLC Purchases 8,468 Shares of Tesla, Inc. $TSLA

Key Points

• KPP Advisory Services LLC increased its stake in Tesla, Inc. by 34.7%, acquiring an additional 8,468 shares during Q2, bringing its total holdings to 32,898 shares valued at approximately $10.45 million.
• Insider selling activity has been notable, with CFO Vaibhav Taneja and SVP Xiaotong Zhu selling significant portions of their shares, contributing to total insider sales of 202,606 shares valued at around $75.59 million in the last ninety days.
• Despite recent analyst upgrades, Tesla's stock remains volatile, with an average rating of "Hold" and a target price of $375.50, while its market capitalization stands at $1.4 trillion.

KPP Advisory Services LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 34.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,898 shares of the electric vehicle producer's stock after buying an additional 8,468 shares during the period. Tesla comprises 1.7% of KPP Advisory Services LLC's portfolio, making the stock its 12th largest holding. KPP Advisory Services LLC's holdings in Tesla were worth $10,450,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. First Merchants Corp lifted its stake in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock worth $767,000 after purchasing an additional 31 shares during the period. Alaska Wealth Advisors lifted its position in shares of Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer's stock worth $313,000 after buying an additional 32 shares during the period. KWB Wealth boosted its stake in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its stake in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after acquiring an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its holdings in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $420.05 on Thursday. The company has a market capitalization of $1.40 trillion, a PE ratio of 242.80, a P/E/G ratio of 15.91 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a 50 day simple moving average of $393.73 and a two-hundred day simple moving average of $336.97.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Glj Research reiterated a "sell" rating on shares of Tesla in a research note on Wednesday. Canaccord Genuity Group decreased their price target on Tesla from $490.00 to $482.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $375.50.

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.

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