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

Key Financial Inc lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,415 shares of the electric vehicle producer’s stock after selling 229 shares during the quarter. Key Financial Inc’s holdings in Tesla were worth $1,379,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TSLA. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter valued at $29,000. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the 4th quarter valued at about $46,000. PayPay Securities Corp grew its stake in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft lifted 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $440.00 price target on shares of Tesla in a research report on Thursday, January 30th. Canaccord Genuity Group increased their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley increased their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $326.50.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

NASDAQ TSLA opened at $337.80 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34. The company’s 50 day simple moving average is $400.17 and its 200 day simple moving average is $312.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.