Kelly Financial Services LLC Acquires 243 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kelly Financial Services LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,296 shares of the electric vehicle producer’s stock after acquiring an additional 243 shares during the quarter. Kelly Financial Services LLC’s holdings in Tesla were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla in the fourth quarter valued at $56,600,000. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. grew its stake in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. acquired a new position in shares of Tesla in the fourth quarter valued at about $8,158,000. Finally, Vontobel Holding Ltd. grew its stake in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after acquiring an additional 60,342 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Baird R W downgraded shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday. Cantor Fitzgerald decreased their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays cut their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.67.

Insiders Place Their Bets

In related news, Director Joseph Gebbia acquired 4,000 shares of Tesla stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the transaction, the director now directly owns 4,111 shares in the company, valued at $1,053,690.41. This represents a 3,603.60% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 0.1%

Tesla stock opened at $326.43 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $169.80 and a 52-week high of $488.54. The firm has a 50 day moving average price of $295.60 and a two-hundred day moving average price of $333.11. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 160.02, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the business posted $0.45 EPS. 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.