Kovack Advisors Inc. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Kovack Advisors Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,370 shares of the electric vehicle producer’s stock after purchasing an additional 578 shares during the quarter. Tesla comprises about 0.8% of Kovack Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. Kovack Advisors Inc.’s holdings in Tesla were worth $6,552,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. lifted its stake in shares of Tesla by 18.8% during the third quarter. GHP Investment Advisors Inc. now owns 922 shares of the electric vehicle producer’s stock worth $232,000 after purchasing an additional 146 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Tesla by 73.8% during the third quarter. Exchange Traded Concepts LLC now owns 7,430 shares of the electric vehicle producer’s stock worth $1,859,000 after purchasing an additional 3,156 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Tesla by 39.9% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,370 shares of the electric vehicle producer’s stock worth $343,000 after acquiring an additional 391 shares during the last quarter. Welch Group LLC increased its position in shares of Tesla by 6.2% during the third quarter. Welch Group LLC now owns 1,424 shares of the electric vehicle producer’s stock worth $356,000 after acquiring an additional 83 shares during the last quarter. Finally, Opal Wealth Advisors LLC increased its position in shares of Tesla by 1.0% during the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction 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 in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last three months. 25.10% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $1.89 during trading on Friday, hitting $168.29. The company had a trading volume of 109,309,500 shares, compared to its average volume of 103,386,453. The business’s 50-day moving average is $175.04 and its 200 day moving average is $208.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a market cap of $535.97 billion, a P/E ratio of 42.93, a PEG ratio of 4.28 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period last year, the firm earned $1.07 earnings per share. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price on shares of Tesla in a research report on Monday. Barclays dropped their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. Sanford C. Bernstein lowered their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $186.70.

Tesla 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.