Kingsview Wealth Management LLC Sells 1,467 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kingsview Wealth Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the first quarter, Holdings Channel.com reports. The fund owned 47,534 shares of the electric vehicle producer’s stock after selling 1,467 shares during the period. Kingsview Wealth Management LLC’s holdings in Tesla were worth $12,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Vanguard Group Inc. boosted its stake in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new stake in shares of Tesla in the 4th quarter worth approximately $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 3.5%

Shares of TSLA opened at $321.67 on Thursday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a 50 day simple moving average of $324.95 and a two-hundred day simple moving average of $318.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a market cap of $1.04 trillion, a P/E ratio of 176.74, a price-to-earnings-growth ratio of 9.26 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TSLA. Morgan Stanley reissued an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Roth Mkm cut their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group decreased their price target on Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Finally, Baird R W cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $300.19.

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.