Kirtland Hills Capital Management LLC Acquires 1,775 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kirtland Hills Capital Management LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 37.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,499 shares of the electric vehicle producer’s stock after buying an additional 1,775 shares during the period. Tesla makes up approximately 1.7% of Kirtland Hills Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Kirtland Hills Capital Management LLC’s holdings in Tesla were worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new stake in Tesla in the third quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the 4th quarter valued at $46,000. PayPay Securities Corp boosted its position in Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in Tesla by 692.6% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. Evercore ISI upped their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a research report on Tuesday. Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $319.57.

Tesla Trading Down 3.0 %

Shares of NASDAQ TSLA opened at $281.95 on Friday. The company has a market cap of $906.90 billion, a PE ratio of 138.21, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm’s 50 day moving average price is $387.91 and its 200-day moving average price is $315.28. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last ninety days. Insiders own 20.70% of the company’s stock.

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.