Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 227.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 93,147 shares of the electric vehicle producer's stock after purchasing an additional 64,734 shares during the period. Tesla accounts for approximately 0.9% of Kingswood Wealth Advisors LLC's investment portfolio, making the stock its 11th biggest position. Kingswood Wealth Advisors LLC's holdings in Tesla were worth $24,765,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Newton One Investments LLC raised its holdings 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 acquiring an additional 75 shares during the last quarter. True Wealth Design LLC boosted 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 purchasing an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. Pflug Koory LLC boosted its position in shares of Tesla by 370.4% during the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, GS Investments Inc. boosted its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TSLA shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Royal Bank Of Canada reduced their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler restated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group reduced their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $293.67.

Insider Activity at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company's stock.

Tesla Stock Down 3.8%

Shares of NASDAQ TSLA opened at $316.73 on Wednesday. Tesla, Inc. has a 12-month low of $179.66 and a 12-month high of $488.54. The company has a market capitalization of $1.02 trillion, a PE ratio of 174.03, a price-to-earnings-growth ratio of 12.36 and a beta of 2.47. 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 firm's 50-day moving average is $302.42 and its two-hundred day moving average is $332.66.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the company posted $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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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