United Capital Management of KS Inc. Acquires 11,556 Shares of Tesla, Inc. (NASDAQ:TSLA)

United Capital Management of KS Inc. boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,070 shares of the electric vehicle producer’s stock after purchasing an additional 11,556 shares during the period. Tesla comprises approximately 3.7% of United Capital Management of KS Inc.’s investment portfolio, making the stock its 6th biggest holding. United Capital Management of KS Inc.’s holdings in Tesla were worth $16,834,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the fourth quarter worth $37,000. Kessler Investment Group LLC grew its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Aspect Partners LLC grew its position in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in Tesla in the second quarter valued at $42,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 3.8 %

NASDAQ TSLA opened at $214.11 on Friday. The stock has a market capitalization of $684.00 billion, a P/E ratio of 54.62, a PEG ratio of 5.55 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The firm’s 50-day moving average is $222.00 and its two-hundred day moving average is $192.82.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TSLA shares. Canaccord Genuity Group lifted their price target on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. William Blair initiated coverage on Tesla in a research note on Thursday. They set an “outperform” rating for the company. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $204.21.

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.