Keynote Financial Services LLC Invests $412,000 in Tesla, Inc. (NASDAQ:TSLA)

Keynote Financial Services LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 1st quarter, Holdings Channel reports. The fund acquired 2,341 shares of the electric vehicle producer’s stock, valued at approximately $412,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.7% during the first 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 in the last quarter. Norges Bank bought a new stake in Tesla in the 4th quarter worth approximately $7,844,757,000. Charles Schwab Investment Management Inc. lifted its position in Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after buying an additional 458,804 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TSLA shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, July 16th. Stifel Nicolaus initiated coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Piper Sandler increased their target price on Tesla from $205.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada decreased their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $204.30.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,719 shares of company stock valued at $32,032,968. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

TSLA stock traded down $9.19 during trading on Friday, hitting $207.67. The company had a trading volume of 82,880,120 shares, compared to its average volume of 126,158,848. 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 $210.01 and a 200-day moving average price of $190.87. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The firm has a market cap of $663.43 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 5.60 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business 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 company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. On average, analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current 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.