Krilogy Financial LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Krilogy Financial LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,227 shares of the electric vehicle producer's stock after selling 1,314 shares during the period. Krilogy Financial LLC's holdings in Tesla were worth $7,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at approximately $29,000. Clean Yield Group increased its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter valued at $35,000. Finally, M&R Capital Management Inc. grew its stake in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm'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 owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA traded up $12.68 during trading hours on Monday, reaching $426.50. The stock had a trading volume of 94,422,250 shares, compared to its average volume of 80,357,656. Tesla, Inc. has a 52-week low of $138.80 and a 52-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 stock has a market cap of $1.37 trillion, a P/E ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The stock has a fifty day moving average of $389.94 and a 200 day moving average of $288.78.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Piper Sandler raised their price objective on Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Roth Capital raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Wedbush reiterated an "outperform" rating and issued a $400.00 target price on shares of Tesla in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $299.33.

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.