KMG Fiduciary Partners LLC Boosts Holdings in Tesla, Inc. $TSLA

KMG Fiduciary Partners LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,526 shares of the electric vehicle producer’s stock after buying an additional 480 shares during the period. KMG Fiduciary Partners LLC’s holdings in Tesla were worth $4,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cherry Tree Wealth Management LLC raised its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Pacific Center for Financial Services lifted its position in shares of Tesla by 1,616.7% during the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock valued at $42,000 after buying an additional 97 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the 1st quarter valued at about $27,000. Finally, Newton One Investments LLC grew its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TSLA. HSBC reaffirmed a “reduce” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Canaccord Genuity Group increased their price target on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Guggenheim reissued a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $307.46.

Tesla Stock Up 1.0%

Shares of NASDAQ:TSLA opened at $425.86 on Thursday. The firm has a market capitalization of $1.37 trillion, a PE ratio of 246.16, a price-to-earnings-growth ratio of 14.71 and a beta of 2.06. The business has a 50 day simple moving average of $336.29 and a two-hundred day simple moving average of $306.18. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

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.