Kellett Wealth Advisors LLC Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Kellett Wealth Advisors LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,969 shares of the electric vehicle producer’s stock after selling 418 shares during the period. Kellett Wealth Advisors LLC’s holdings in Tesla were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSLA. Wyrmwood Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla in the third quarter valued at $27,000. Perkins Coie Trust Co grew its position in shares of Tesla by 72.0% in the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 54 shares during the period. Finally, Mendota Financial Group LLC grew its position in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.6 %

Tesla stock traded down $5.52 during midday trading on Thursday, hitting $149.93. The stock had a trading volume of 95,522,509 shares, compared to its average volume of 101,837,430. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $477.50 billion, a P/E ratio of 35.25, a P/E/G ratio of 4.15 and a beta of 2.39. Tesla, Inc. has a 12 month low of $148.70 and a 12 month high of $299.29. The business has a fifty day moving average price of $180.24 and a 200 day moving average price of $212.64.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Research analysts predict that Tesla, Inc. will post 1.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. JPMorgan Chase & Co. reduced their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Piper Sandler reduced their target price on Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Morgan Stanley reduced their target price on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Finally, Citigroup reduced their target price on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Ten research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $194.70.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last three months. 25.10% of the stock is owned by insiders.

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.