United Capital Management of KS Inc. Trims Position in Tesla, Inc. (NASDAQ:TSLA)

United Capital Management of KS Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,060 shares of the electric vehicle producer's stock after selling 22,010 shares during the period. Tesla makes up about 3.6% of United Capital Management of KS Inc.'s holdings, making the stock its 6th biggest position. United Capital Management of KS Inc.'s holdings in Tesla were worth $16,498,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Tesla by 35,611.2% during 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 buying an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC increased its holdings in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer's stock worth $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, National Pension Service lifted its stake in Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer's stock valued at $1,355,939,000 after acquiring an additional 688,717 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock traded up $22.51 during trading hours on Monday, hitting $343.73. 177,379,453 shares of the company's stock were exchanged, compared to its average volume of 95,269,320. The stock's 50-day moving average is $241.18 and its 200-day moving average is $215.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 97.39, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the business earned $0.53 earnings per share. Tesla's quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Barclays increased their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Truist Financial raised their target price on Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a report on Thursday, October 24th. Bank of America increased their price objective on Tesla from $265.00 to $350.00 and gave the company a "buy" rating in a report on Thursday. Stifel Nicolaus boosted their target price on Tesla from $265.00 to $287.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Roth Mkm reissued a "neutral" rating and issued a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $225.06.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated 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 completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 0.00 % 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 the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction 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 of the company's stock, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 over the last 90 days. 20.70% of the stock is owned by insiders.

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.