Kirtland Hills Capital Management LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Kirtland Hills Capital Management LLC increased its position in Tesla, Inc. by 18.0%, now owning 7,672 shares valued at approximately $1.85 million.
• Analysts have mixed ratings on Tesla, with a consensus rating of "Hold" and a target price of $302.75, while some firms set more aggressive targets up to $475.00.
• Tesla reported earnings of $0.40 EPS, missing estimates, with revenues of $22.5 billion, reflecting an 11.8% decline compared to the previous year.

Kirtland Hills Capital Management LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,672 shares of the electric vehicle producer's stock after buying an additional 1,173 shares during the period. Tesla makes up about 1.1% of Kirtland Hills Capital Management LLC's investment portfolio, making the stock its 27th largest holding. Kirtland Hills Capital Management LLC's holdings in Tesla were worth $1,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TSLA. Meeder Advisory Services Inc. lifted its stake in shares of Tesla by 2.5% in the 1st quarter. Meeder Advisory Services Inc. now owns 47,127 shares of the electric vehicle producer's stock worth $12,214,000 after purchasing an additional 1,158 shares during the period. Brio Consultants LLC increased its holdings in Tesla by 2,649.0% in the 1st quarter. Brio Consultants LLC now owns 20,700 shares of the electric vehicle producer's stock worth $5,365,000 after acquiring an additional 19,947 shares in the last quarter. JSF Financial LLC raised its stake in Tesla by 16.8% during the 1st quarter. JSF Financial LLC now owns 2,238 shares of the electric vehicle producer's stock worth $580,000 after acquiring an additional 322 shares during the period. Your Advocates Ltd. LLP lifted its holdings in Tesla by 3,900.0% during the first quarter. Your Advocates Ltd. LLP now owns 400 shares of the electric vehicle producer's stock valued at $104,000 after purchasing an additional 390 shares in the last quarter. Finally, Marco Investment Management LLC boosted its position in shares of Tesla by 4.6% in the first quarter. Marco Investment Management LLC now owns 17,719 shares of the electric vehicle producer's stock worth $4,592,000 after purchasing an additional 784 shares during the period. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Canaccord Genuity Group raised their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $303.31.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. This trade represents a 25.24% 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 hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 719,119 shares of company stock valued at $246,186,549. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 1.5%

Shares of NASDAQ:TSLA traded down $4.54 on Friday, hitting $303.73. The company had a trading volume of 68,494,559 shares, compared to its average volume of 107,762,578. 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 firm has a market capitalization of $979.68 billion, a price-to-earnings ratio of 175.82, a P/E/G ratio of 11.21 and a beta of 2.39. The firm's 50-day simple moving average is $322.96 and its two-hundred day simple moving average is $312.48. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.