Kellett Wealth Advisors LLC Has $472,000 Stock Position in Tesla, Inc. $TSLA

Kellett Wealth Advisors LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 16.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,487 shares of the electric vehicle producer’s stock after selling 293 shares during the quarter. Kellett Wealth Advisors LLC’s holdings in Tesla were worth $472,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.5%

Tesla stock opened at $429.24 on Wednesday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.12, a price-to-earnings-growth ratio of 15.71 and a beta of 2.08. The firm’s fifty day moving average price is $380.91 and its two-hundred day moving average price is $330.17. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSLA shares. The Goldman Sachs Group raised their price target on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a report on Wednesday, October 8th. Industrial Alliance Securities set a $300.00 price target on shares of Tesla in a report on Monday. Finally, Canaccord Genuity Group raised their price target on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $363.03.

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.