KCM Investment Advisors LLC Sells 461 Shares of Tesla, Inc. (NASDAQ:TSLA)

KCM Investment Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,037 shares of the electric vehicle producer’s stock after selling 461 shares during the quarter. KCM Investment Advisors LLC’s holdings in Tesla were worth $4,981,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Birchcreek Wealth Management LLC acquired a new position in Tesla in the third quarter valued at approximately $277,000. Empowered Funds LLC lifted its holdings in Tesla by 2.8% in the third quarter. Empowered Funds LLC now owns 72,563 shares of the electric vehicle producer’s stock valued at $18,985,000 after buying an additional 2,001 shares during the period. Empirical Finance LLC lifted its holdings in Tesla by 3.8% in the third quarter. Empirical Finance LLC now owns 81,282 shares of the electric vehicle producer’s stock valued at $21,266,000 after buying an additional 2,974 shares during the period. Connable Office Inc. lifted its holdings in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Tesla by 6.2% in the third quarter. CIBC Asset Management Inc now owns 724,497 shares of the electric vehicle producer’s stock valued at $189,550,000 after buying an additional 42,453 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

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

Tesla Stock Performance

Shares of TSLA traded up $4.85 during midday trading on Friday, reaching $316.03. The stock had a trading volume of 33,726,660 shares, compared to its average volume of 95,664,141. The firm has a 50 day simple moving average of $250.10 and a 200-day simple moving average of $219.58. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The firm has a market cap of $1.01 trillion, a PE ratio of 87.16, a P/E/G ratio of 10.73 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TSLA shares. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a report on Wednesday, July 24th. Wedbush increased their target price on shares of Tesla from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $228.24.

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.