Key Financial Inc Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Financial Inc boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 102.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,650 shares of the electric vehicle producer’s stock after acquiring an additional 1,845 shares during the quarter. Key Financial Inc’s holdings in Tesla were worth $907,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. acquired a new position in shares of Tesla in the 4th quarter valued at $25,000. Alpha Paradigm Partners LLC acquired a new position in Tesla during the 3rd quarter worth about $27,000. MayTech Global Investments LLC acquired a new position in Tesla during the 4th quarter worth about $30,000. Finally, Perkins Coie Trust Co increased its holdings in Tesla by 72.0% during the 3rd quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 54 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last ninety days. 20.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSLA. Barclays dropped their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday. Redburn Atlantic assumed coverage on Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target for the company. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. China Renaissance initiated coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $197.15.

Tesla Stock Performance

Shares of Tesla stock traded down $1.66 during trading hours on Wednesday, reaching $155.45. The company’s stock had a trading volume of 81,894,508 shares, compared to its average volume of 101,917,313. The company’s 50 day simple moving average is $180.88 and its 200 day simple moving average is $213.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a one year low of $152.37 and a one year high of $299.29. The stock has a market cap of $495.08 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 4.25 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 earnings per share. As a group, analysts expect that Tesla, Inc. will post 1.98 EPS for the current fiscal year.

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.