KPP Advisory Services LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

KPP Advisory Services LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,512 shares of the electric vehicle producer’s stock after selling 600 shares during the period. Tesla makes up approximately 1.6% of KPP Advisory Services LLC’s holdings, making the stock its 14th biggest holding. KPP Advisory Services LLC’s holdings in Tesla were worth $6,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Oppenheimer & Co. Inc. increased its stake in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management increased its position in shares of Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the last quarter. Savvy Advisors Inc. raised its holdings in Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the period. ICICI Prudential Asset Management Co Ltd raised its holdings in Tesla by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after buying an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $230.18.

Tesla Price Performance

Shares of Tesla stock traded up $9.54 on Friday, hitting $320.72. The company’s stock had a trading volume of 114,440,286 shares, compared to its average volume of 96,026,047. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a fifty day moving average price of $252.30 and a 200-day moving average price of $220.46.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal 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.