Kingswood Wealth Advisors LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kingswood Wealth Advisors LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,413 shares of the electric vehicle producer's stock after selling 5,434 shares during the quarter. Tesla accounts for 0.9% of Kingswood Wealth Advisors LLC's portfolio, making the stock its 17th biggest holding. Kingswood Wealth Advisors LLC's holdings in Tesla were worth $11,474,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSLA. International Assets Investment Management LLC raised its position in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer's stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the period. Wellington Management Group LLP lifted its position in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer's stock worth $416,341,000 after purchasing an additional 1,479,378 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.4 %

TSLA stock traded up $13.13 during mid-day trading on Thursday, reaching $402.23. The company had a trading volume of 74,326,638 shares, compared to its average volume of 73,721,320. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 110.43, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The firm has a fifty day simple moving average of $401.98 and a 200 day simple moving average of $297.28.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 13.07% and a return on equity of 10.24%. Analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock valued at $212,451,751 in the last three months. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Robert W. Baird lowered their price target on shares of Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a research report on Thursday. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Piper Sandler upped their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $317.28.

About Tesla

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.