KKM Financial LLC Sells 1,040 Shares of Tesla, Inc. (NASDAQ:TSLA)

KKM Financial LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,245 shares of the electric vehicle producer's stock after selling 1,040 shares during the quarter. KKM Financial LLC's holdings in Tesla were worth $907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Horrell Capital Management Inc. lifted its stake in Tesla by 75.6% during the fourth 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 last quarter. 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 in the last quarter. Navigoe LLC purchased a new position in Tesla in the 4th quarter valued at approximately $37,000. CoreFirst Bank & Trust acquired a new position in Tesla during the fourth quarter worth about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla during the fourth quarter worth $39,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of Tesla stock traded up $4.78 during mid-day trading on Tuesday, reaching $323.16. 26,383,640 shares of the stock were exchanged, compared to its average volume of 96,066,438. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 158.31, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $259.44 and a 200 day simple moving average of $328.24.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 408,623 shares of company stock valued at $114,400,501. Insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TSLA shares. Robert W. Baird dropped their price objective on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Argus set a $410.00 price target on Tesla in a report on Thursday, April 24th. Truist Financial set a $280.00 target price on Tesla in a research note on Tuesday, April 22nd. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and boosted their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $350.00 price target on shares of Tesla in a research note on Thursday, May 1st. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $287.46.

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.