Kraft Davis & Associates LLC Acquires 78 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kraft Davis & Associates LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,180 shares of the electric vehicle producer’s stock after acquiring an additional 78 shares during the quarter. Kraft Davis & Associates LLC’s holdings in Tesla were worth $542,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. MidWestOne Financial Group Inc. grew its holdings in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after buying an additional 15 shares in the last quarter. City State Bank grew its holdings in shares of Tesla by 3.3% during the third quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock worth $315,000 after buying an additional 40 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Tesla by 1.0% during the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after buying an additional 42 shares in the last quarter. Holderness Investments Co. grew its holdings in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after buying an additional 42 shares in the last quarter. Finally, Linscomb & Williams Inc. grew its holdings in shares of Tesla by 3.5% during the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after buying an additional 42 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSLA. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Wednesday. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Piper Sandler decreased their price target on Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Morgan Stanley decreased their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $194.70.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last 90 days. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of TSLA traded down $2.88 during midday trading on Friday, hitting $147.05. The company’s stock had a trading volume of 86,914,652 shares, compared to its average volume of 101,650,617. Tesla, Inc. has a one year low of $146.22 and a one year high of $299.29. The company’s fifty day simple moving average is $178.51 and its two-hundred day simple moving average is $211.48. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $468.32 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 4.11 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

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.