Kingsview Wealth Management LLC Buys 5,193 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kingsview Wealth Management LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,001 shares of the electric vehicle producer’s stock after purchasing an additional 5,193 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Tesla were worth $19,789,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSLA. World Investment Advisors LLC increased its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management raised its holdings in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the period. Vinva Investment Management Ltd lifted its stake in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Stephens Consulting LLC grew its holdings in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares during the period. Finally, MML Investors Services LLC increased its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TSLA shares. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Wells Fargo & Company lifted their target price on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Finally, KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $326.50.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 635,776 shares of company stock worth $231,335,112. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

TSLA stock opened at $336.51 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market cap of $1.08 trillion, a price-to-earnings ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a 50 day simple moving average of $407.68 and a 200 day simple moving average of $306.23.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts anticipate that Tesla, Inc. will post 2.54 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.