Kingswood Wealth Advisors LLC Sells 65,485 Shares of Tesla, Inc. $TSLA

Kingswood Wealth Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 70.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,662 shares of the electric vehicle producer’s stock after selling 65,485 shares during the period. Tesla accounts for 0.7% of Kingswood Wealth Advisors LLC’s holdings, making the stock its 20th biggest position. Kingswood Wealth Advisors LLC’s holdings in Tesla were worth $8,787,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi lifted its position in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after acquiring an additional 2,211,300 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLA shares. Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a “buy” rating in a research report on Wednesday. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. CICC Research boosted their target price on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Mizuho boosted their target price on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $345.70.

Tesla Trading Up 1.3%

TSLA opened at $438.69 on Thursday. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.58, a P/E/G ratio of 15.92 and a beta of 2.08. The stock’s 50 day moving average price is $371.20 and its 200-day moving average price is $325.56. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS 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.