Kelly Financial Services LLC Purchases 76 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kelly Financial Services LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118 shares of the electric vehicle producer’s stock after purchasing an additional 76 shares during the quarter. Kelly Financial Services LLC’s holdings in Tesla were worth $293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Financial Bankshares Inc purchased a new stake in Tesla in the 4th quarter valued at about $782,000. Kestra Advisory Services LLC increased its stake in shares of Tesla by 27.5% during the 4th quarter. Kestra Advisory Services LLC now owns 220,783 shares of the electric vehicle producer’s stock worth $54,860,000 after purchasing an additional 47,629 shares during the last quarter. Pathstone Holdings LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $112,267,000. Marketfield Asset Management LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $3,628,000. Finally, Shariaportfolio Inc. increased its stake in shares of Tesla by 11.9% during the 4th quarter. Shariaportfolio Inc. now owns 44,199 shares of the electric vehicle producer’s stock worth $10,983,000 after purchasing an additional 4,684 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.4 %

TSLA opened at $241.05 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average price of $224.79 and a 200-day moving average price of $203.05. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a market capitalization of $770.07 billion, a price-to-earnings ratio of 61.49, a PEG ratio of 6.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. Insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Piper Sandler raised their price objective on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Guggenheim raised their price objective on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Royal Bank of Canada raised their price target on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a report on Monday. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $210.90.

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.