TKG Advisors LLC Cuts Stock Holdings in Tesla, Inc. $TSLA

TKG Advisors LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,385 shares of the electric vehicle producer’s stock after selling 314 shares during the period. TKG Advisors LLC’s holdings in Tesla were worth $1,075,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new stake in Tesla during the 1st quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in Tesla by 581,880.5% during the 2nd 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 in the last quarter. Amundi grew its stake in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TSLA. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Canaccord Genuity Group dropped their target price on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. President Capital upped their target price on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Evercore ISI upped their price objective on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $391.08.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Down 5.1%

TSLA opened at $444.26 on Wednesday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The business has a fifty day simple moving average of $414.80 and a 200-day simple moving average of $351.91. The firm has a market cap of $1.48 trillion, a P/E ratio of 296.17, a P/E/G ratio of 16.84 and a beta of 2.08. 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 Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.