Keyvantage Wealth LLC Invests $1.08 Million in Tesla, Inc. (NASDAQ:TSLA)

Keyvantage Wealth LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,675 shares of the electric vehicle producer's stock, valued at approximately $1,080,000. Tesla comprises about 0.8% of Keyvantage Wealth LLC's portfolio, making the stock its 28th largest position.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC increased its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock worth $1,769,899,000 after buying an additional 4,374,746 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 5.5 %

Tesla stock opened at $251.07 on Thursday. The stock has a market cap of $807.56 billion, a P/E ratio of 123.07, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm's fifty day moving average price is $267.29 and its 200-day moving average price is $322.05. Tesla, Inc. has a fifty-two week low of $157.51 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the business earned $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Cantor Fitzgerald lowered their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday. StockNews.com cut Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday. Raymond James cut Tesla to an "outperform" rating in a research note on Tuesday. Finally, Glj Research reiterated a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $283.24.

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.

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