Kovack Advisors Inc. Has $7.66 Million Position in Tesla, Inc. $TSLA

Kovack Advisors Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,123 shares of the electric vehicle producer’s stock after buying an additional 3,913 shares during the quarter. Tesla comprises 0.8% of Kovack Advisors Inc.’s portfolio, making the stock its 23rd biggest position. Kovack Advisors Inc.’s holdings in Tesla were worth $7,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TSLA. Siren L.L.C. acquired a new stake in Tesla in the 1st quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC raised its holdings in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new stake in Tesla in the 1st quarter valued at $594,000. Strs Ohio acquired a new stake in Tesla in the 1st quarter valued at $205,495,000. Finally, IFM Investors Pty Ltd increased its stake in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after buying an additional 46,087 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $440.10 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock’s fifty day moving average price is $408.19 and its two-hundred day moving average price is $346.05. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 293.40, a P/E/G ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the company posted $0.72 earnings per share. Tesla’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Morgan Stanley restated an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Dbs Bank boosted their target price on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, Wedbush restated an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $388.51.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the 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 sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

About Tesla

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.