KMG Fiduciary Partners LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

KMG Fiduciary Partners LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,490 shares of the electric vehicle producer’s stock after buying an additional 304 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Tesla were worth $4,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Clean Energy Transition LLP increased its holdings in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC increased its holdings in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. Vanguard Group Inc. increased its holdings in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 sale, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 sale, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last quarter. 25.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TSLA. Citigroup lowered their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Truist Financial upped their price objective on Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, Guggenheim upped their price objective on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Stock Performance

Tesla stock opened at $220.70 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a fifty day moving average of $227.67 and a two-hundred day moving average of $205.12. The company has a market capitalization of $703.86 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00.

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

Tesla 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.