KCM Investment Advisors LLC Decreases Holdings in Tesla, Inc. (NASDAQ:TSLA)

KCM Investment Advisors LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,292 shares of the electric vehicle producer’s stock after selling 1,745 shares during the quarter. KCM Investment Advisors LLC’s holdings in Tesla were worth $6,983,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new position in Tesla during the 4th quarter worth $358,201,000. Pamalican Asset Management Ltd purchased a new stake in shares of Tesla during the fourth quarter worth about $6,732,000. Leeward Financial Partners LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $209,000. First Western Trust Bank purchased a new position in shares of Tesla in the 4th quarter valued at approximately $213,000. Finally, Hurlow Wealth Management Group Inc. acquired a new stake in Tesla in the 4th quarter worth approximately $273,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Bank of America decreased their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $312.65.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $239.43 on Friday. The stock has a market capitalization of $770.13 billion, a price-to-earnings ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a 50-day simple moving average of $305.98 and a 200-day simple moving average of $322.90. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.