Alta Wealth Advisors LLC Has $1.33 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Alta Wealth Advisors LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,116 shares of the electric vehicle producer's stock after selling 2,156 shares during the period. Alta Wealth Advisors LLC's holdings in Tesla were worth $1,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Beacon Financial Advisory LLC boosted its stake in shares of Tesla by 1.9% during the 1st quarter. Beacon Financial Advisory LLC now owns 7,502 shares of the electric vehicle producer's stock worth $1,944,000 after buying an additional 143 shares during the last quarter. Elite Life Management LLC boosted its stake in shares of Tesla by 6.1% during the 1st quarter. Elite Life Management LLC now owns 902 shares of the electric vehicle producer's stock worth $234,000 after buying an additional 52 shares during the last quarter. Stone Summit Wealth LLC boosted its stake in shares of Tesla by 3.8% during the 1st quarter. Stone Summit Wealth LLC now owns 2,345 shares of the electric vehicle producer's stock worth $608,000 after buying an additional 85 shares during the last quarter. Total Wealth Planning & Management Inc. boosted its stake in shares of Tesla by 15.1% during the 1st quarter. Total Wealth Planning & Management Inc. now owns 1,296 shares of the electric vehicle producer's stock worth $336,000 after buying an additional 170 shares during the last quarter. Finally, CNB Bank boosted its stake in shares of Tesla by 14.6% during the 1st quarter. CNB Bank now owns 9,764 shares of the electric vehicle producer's stock worth $2,530,000 after buying an additional 1,243 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. HSBC cut their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. UBS Group lifted their price target on Tesla from $190.00 to $215.00 and gave the stock a "sell" rating in a report on Monday, June 23rd. Finally, Roth Mkm reduced their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $298.37.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Down 0.7%

NASDAQ TSLA opened at $323.63 on Friday. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.18 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $314.93 and a 200-day moving average of $330.48.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, equities research analysts expect 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.

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