Kovack Advisors Inc. Purchases 578 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kovack Advisors Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,370 shares of the electric vehicle producer’s stock after purchasing an additional 578 shares during the quarter. Tesla accounts for 0.8% of Kovack Advisors Inc.’s portfolio, making the stock its 15th largest position. Kovack Advisors Inc.’s holdings in Tesla were worth $6,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. K.J. Harrison & Partners Inc boosted its position in shares of Tesla by 40.0% during the fourth quarter. K.J. Harrison & Partners Inc now owns 17,380 shares of the electric vehicle producer’s stock worth $4,319,000 after purchasing an additional 4,970 shares in the last quarter. Blodgett Wealth Advisors LLC raised its holdings in shares of Tesla by 24.6% during the fourth quarter. Blodgett Wealth Advisors LLC now owns 2,455 shares of the electric vehicle producer’s stock worth $610,000 after acquiring an additional 485 shares during the period. Argonautica Private Wealth Management Inc. raised its holdings in shares of Tesla by 0.6% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 10,784 shares of the electric vehicle producer’s stock worth $2,680,000 after acquiring an additional 63 shares during the period. Callan Capital LLC raised its holdings in shares of Tesla by 0.9% during the fourth quarter. Callan Capital LLC now owns 7,315 shares of the electric vehicle producer’s stock worth $1,818,000 after acquiring an additional 62 shares during the period. Finally, Motley Fool Asset Management LLC raised its holdings in shares of Tesla by 7.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 87,468 shares of the electric vehicle producer’s stock worth $21,734,000 after acquiring an additional 5,985 shares during the period. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. HSBC dropped their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Wednesday. Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Sanford C. Bernstein lowered their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Finally, Truist Financial lowered their price target on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $186.70.

Tesla Stock Performance

Shares of TSLA stock traded down $1.89 during midday trading on Friday, hitting $168.29. 109,309,500 shares of the company were exchanged, compared to its average volume of 103,386,453. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The firm has a market capitalization of $535.97 billion, a P/E ratio of 42.93, a PEG ratio of 4.28 and a beta of 2.39. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The firm’s 50 day moving average price is $175.04 and its two-hundred day moving average price is $208.00.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. Company insiders own 25.10% 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.