Kingswood Wealth Advisors LLC Sells 15,925 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kingswood Wealth Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 30.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,096 shares of the electric vehicle producer’s stock after selling 15,925 shares during the quarter. Tesla comprises 0.7% of Kingswood Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Kingswood Wealth Advisors LLC’s holdings in Tesla were worth $6,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Holderness Investments Co. raised its holdings in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the last quarter. Daymark Wealth Partners LLC raised its holdings in shares of Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the last quarter. Cravens & Co Advisors LLC raised its holdings in shares of Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after purchasing an additional 48 shares during the last quarter. Patten & Patten Inc. TN raised its holdings in shares of Tesla by 1.1% during the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares during the last quarter. Finally, Caerus Investment Advisors LLC raised its holdings in shares of Tesla by 0.3% during the fourth quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 4.8 %

Shares of NASDAQ:TSLA traded up $9.02 during trading on Wednesday, reaching $196.37. The stock had a trading volume of 95,407,381 shares, compared to its average volume of 95,510,969. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a market capitalization of $626.26 billion, a P/E ratio of 50.09, a PEG ratio of 4.65 and a beta of 2.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $175.02 and its 200 day simple moving average is $192.25.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, research analysts expect that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock worth $19,285,643 in the last three months. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. Roth Mkm reissued a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Wednesday, April 24th. Guggenheim restated a “sell” rating and set a $126.00 target price on shares of Tesla in a research report on Tuesday. Finally, HSBC dropped their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $187.30.

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.