KCM Investment Advisors LLC Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

KCM Investment Advisors LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,292 shares of the electric vehicle producer’s stock after selling 1,745 shares during the quarter. KCM Investment Advisors LLC’s holdings in Tesla were worth $6,983,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank acquired a new stake in shares of Tesla in the third quarter valued at $287,000. Quarry LP raised its holdings in shares of Tesla by 184.7% in the 3rd quarter. Quarry LP now owns 689 shares of the electric vehicle producer’s stock valued at $180,000 after buying an additional 447 shares during the period. Stifel Financial Corp lifted its stake in Tesla by 4.4% during the 3rd quarter. Stifel Financial Corp now owns 516,398 shares of the electric vehicle producer’s stock worth $135,106,000 after acquiring an additional 21,727 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in Tesla during the 3rd quarter valued at about $690,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Evercore ISI boosted their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Truist Financial reduced their target price on shares of Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Royal Bank of Canada reduced their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $312.65.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 10.4 %

Shares of NASDAQ:TSLA opened at $239.43 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market cap of $770.13 billion, a P/E ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. The firm has a fifty day moving average price of $305.98 and a 200 day moving average price of $322.90.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.