Kingsview Wealth Management LLC Buys 1,992 Shares of Tesla, Inc. $TSLA

Kingsview Wealth Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,526 shares of the electric vehicle producer’s stock after buying an additional 1,992 shares during the period. Kingsview Wealth Management LLC’s holdings in Tesla were worth $15,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new stake in Tesla in the first quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC grew its position in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Amundi raised its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSLA. Benchmark reissued a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. Mizuho boosted their target price on Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. CICC Research raised their price target on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Bank of America boosted their price objective on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Melius initiated coverage on Tesla in a research note on Monday, October 13th. They set a “buy” rating and a $520.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $393.61.

Tesla Price Performance

Shares of Tesla stock opened at $404.35 on Friday. The business has a 50 day moving average of $429.67 and a 200 day moving average of $360.78. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a market cap of $1.34 trillion, a PE ratio of 269.57, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.