United Capital Management of KS Inc. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• United Capital Management of KS Inc. increased its Tesla holdings by 2.1% in Q1, now owning 64,715 shares valued at approximately $16.77 million.
• Insider trading has seen significant activity, with CFO Vaibhav Taneja selling 2,000 shares and Director Ira Matthew Ehrenpreis selling 477,572 shares, reflecting total insider sales of 599,724 shares valued at around $213.13 million over the last 90 days.
• Analysts have mixed ratings for Tesla, with recent target price adjustments including a reduction by Cantor Fitzgerald from $425 to $355, and a market consensus rating of "Hold" at an average target price of $303.31.

United Capital Management of KS Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,715 shares of the electric vehicle producer's stock after acquiring an additional 1,353 shares during the period. Tesla comprises approximately 3.5% of United Capital Management of KS Inc.'s holdings, making the stock its 5th largest position. United Capital Management of KS Inc.'s holdings in Tesla were worth $16,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eagle Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at about $331,000. Brighton Jones LLC raised its stake in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in shares of Tesla in the fourth quarter worth $2,367,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. The trade was a 25.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock valued at $213,126,501 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSLA. Cantor Fitzgerald lowered their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Barclays lowered their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Down 1.1%

Tesla stock opened at $335.58 on Friday. 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 cap of $1.08 trillion, a P/E ratio of 193.98, a P/E/G ratio of 11.80 and a beta of 2.33. The business has a fifty day moving average of $319.71 and a two-hundred day moving average of $306.28. Tesla, Inc. has a twelve month low of $202.59 and a twelve month high of $488.54.

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

Tesla Company 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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