Kinloch Capital LLC Sells 130 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kinloch Capital LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,680 shares of the electric vehicle producer’s stock after selling 130 shares during the quarter. Kinloch Capital LLC’s holdings in Tesla were worth $678,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Wealth Group Ltd. bought a new stake in Tesla in the 4th quarter valued at about $275,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Tesla in the 4th quarter worth $1,361,000. Tallon Kerry Patrick bought a new position in shares of Tesla in the 4th quarter worth $374,000. Wedge Capital Management L L P NC lifted its holdings in shares of Tesla by 27.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 3,164 shares of the electric vehicle producer’s stock worth $1,278,000 after purchasing an additional 675 shares in the last quarter. Finally, Whitener Capital Management Inc. bought a new position in shares of Tesla in the 4th quarter worth $230,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TSLA shares. Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Argus set a $410.00 target price on Tesla in a report on Thursday, April 24th. Royal Bank of Canada dropped their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho raised their target price on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $289.43.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares of the company’s stock, valued at $6,833,325.68. This represents a 20.63% 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, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 412,623 shares of company stock valued at $115,600,501 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 2.3%

Shares of TSLA stock opened at $342.09 on Tuesday. The stock has a market cap of $1.10 trillion, a P/E ratio of 167.69, a PEG ratio of 5.86 and a beta of 2.43. The company’s fifty day simple moving average is $269.23 and its two-hundred day simple moving average is $331.30. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the business earned $0.45 EPS. Analysts predict that Tesla, Inc. will post 2.56 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.