Key Financial Inc Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Financial Inc cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,415 shares of the electric vehicle producer’s stock after selling 229 shares during the period. Key Financial Inc’s holdings in Tesla were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TSLA. Swedbank AB grew its position in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares during the last quarter. Courier Capital LLC purchased a new position in Tesla in the 3rd quarter valued at $262,000. YHB Investment Advisors Inc. grew its position in Tesla by 16.7% in the 3rd quarter. YHB Investment Advisors Inc. now owns 2,613 shares of the electric vehicle producer’s stock valued at $684,000 after buying an additional 374 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Tesla by 34.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after buying an additional 1,059 shares during the last quarter. Finally, Bogart Wealth LLC grew its position in Tesla by 80.3% in the 3rd quarter. Bogart Wealth LLC now owns 2,324 shares of the electric vehicle producer’s stock valued at $608,000 after buying an additional 1,035 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 4.7 %

Shares of TSLA stock opened at $337.80 on Friday. The firm has a 50-day moving average price of $400.17 and a 200 day moving average price of $312.40. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 in the last 90 days. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Stifel Nicolaus lowered their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Truist Financial lifted their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $326.50.

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.