Kanawha Capital Management LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Kanawha Capital Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, Holdings Channel reports. The fund acquired 640 shares of the electric vehicle producer’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Hengehold Capital Management LLC raised its holdings in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI raised its stake in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after acquiring an additional 24 shares during the period. Acropolis Investment Management LLC lifted its holdings in shares of Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after purchasing an additional 25 shares during the period. Finally, Prospect Financial Services LLC grew its holdings in Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after purchasing an additional 26 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Mizuho restated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. UBS Group upped their price objective on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $326.50.

Tesla Stock Down 0.0 %

Shares of TSLA stock opened at $355.84 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $1.14 trillion, a price-to-earnings ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The stock’s fifty day moving average price is $406.31 and its 200 day moving average price is $308.78. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts expect that Tesla, Inc. will post 2.54 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.