Kirtland Hills Capital Management LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kirtland Hills Capital Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.3% in the third quarter, HoldingsChannel reports. The firm owned 4,724 shares of the electric vehicle producer’s stock after acquiring an additional 1,070 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Tesla were worth $1,236,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Bank & Trust Co acquired a new position in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth approximately $29,000. Finally, Clean Yield Group boosted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Truist Financial lifted their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. William Blair assumed coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Stock Up 2.1 %

Shares of Tesla stock opened at $346.00 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The business’s fifty day moving average price is $257.14 and its two-hundred day moving average price is $223.29. The company has a market capitalization of $1.11 trillion, a P/E ratio of 94.79, a PEG ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 over the last ninety days. Company insiders own 20.70% of the company’s stock.

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.