Kestra Investment Management LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kestra Investment Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 69.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,683 shares of the electric vehicle producer’s stock after acquiring an additional 2,339 shares during the quarter. Kestra Investment Management LLC’s holdings in Tesla were worth $2,295,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TSLA. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP boosted its stake in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $337.80 on Friday. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a price-to-earnings-growth ratio of 5.97 and a beta of 2.34. 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 business’s 50 day simple moving average is $400.17 and its 200-day simple moving average is $312.40. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. UBS Group upped their target price on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Wedbush increased their price target on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Barclays lifted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $326.50.

Tesla Company 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.