United Capital Management of KS Inc. Grows Stock Position in Tesla, Inc. $TSLA

United Capital Management of KS Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,654 shares of the electric vehicle producer’s stock after purchasing an additional 1,939 shares during the quarter. Tesla makes up about 3.3% of United Capital Management of KS Inc.’s investment portfolio, making the stock its 5th largest holding. United Capital Management of KS Inc.’s holdings in Tesla were worth $21,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth $27,000. Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Centennial Bank AR boosted its stake in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the period. LGT Financial Advisors LLC purchased a new stake in shares of Tesla during the second quarter worth about $29,000. Finally, Compass Wealth Management LLC raised its stake in Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 90 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. BNP Paribas Exane started coverage on shares of Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price for the company. UBS Group set a $247.00 price target on shares of Tesla in a report on Monday, October 6th. Finally, Barclays reiterated a “negative” rating and issued a $350.00 price target (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $381.00.

Tesla Price Performance

TSLA stock opened at $433.72 on Monday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 289.15, a price-to-earnings-growth ratio of 15.45 and a beta of 2.08. The company has a fifty day simple moving average of $398.06 and a two-hundred day simple moving average of $341.21. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (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 firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the company earned $0.72 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.