Kingswood Wealth Advisors LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Kingswood Wealth Advisors LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,413 shares of the electric vehicle producer’s stock after selling 5,434 shares during the period. Tesla comprises approximately 0.9% of Kingswood Wealth Advisors LLC’s portfolio, making the stock its 17th largest position. Kingswood Wealth Advisors LLC’s holdings in Tesla were worth $11,474,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TSLA. Transcendent Capital Group LLC bought a new stake in Tesla in the 3rd quarter worth $29,000. Clean Yield Group grew its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Tesla during the 3rd quarter valued at about $35,000. M&R Capital Management Inc. raised its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Tesla in the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on TSLA shares. The Goldman Sachs Group raised their price target on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price target on shares of Tesla in a research report on Wednesday. Canaccord Genuity Group raised their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $313.84.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $31,548,461.84. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is owned by insiders.

Tesla Price Performance

NASDAQ TSLA opened at $389.10 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.60, a PEG ratio of 8.42 and a beta of 2.30. The business’s fifty day moving average price is $401.04 and its 200-day moving average price is $296.63.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.24% and a net margin of 13.07%. On average, equities analysts predict that Tesla, Inc. will post 2.01 earnings per share 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.