B. Riley Wealth Advisors Inc. Sells 7,307 Shares of Tesla, Inc. (NASDAQ:TSLA)

B. Riley Wealth Advisors Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 62,589 shares of the electric vehicle producer's stock after selling 7,307 shares during the quarter. Tesla accounts for approximately 0.8% of B. Riley Wealth Advisors Inc.'s portfolio, making the stock its 17th largest holding. B. Riley Wealth Advisors Inc.'s holdings in Tesla were worth $25,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla during the fourth quarter valued at $56,600,000. Stephens Consulting LLC raised its stake in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after purchasing an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its position in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. purchased a new stake in shares of Tesla in the fourth quarter worth approximately $8,158,000. Finally, Vontobel Holding Ltd. increased its stake in Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after purchasing an additional 60,342 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. Mizuho lifted their price target on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Wall Street Zen lowered Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. UBS Group dropped their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald lowered their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $293.97.

Tesla Stock Up 0.4%

Shares of Tesla stock traded up $1.55 during trading on Thursday, reaching $358.45. The stock had a trading volume of 59,161,687 shares, compared to its average volume of 107,053,695. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 175.60, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The stock has a fifty day moving average price of $284.09 and a two-hundred day moving average price of $333.75. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the business earned $0.45 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $9,435,464.50. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,623 shares of company stock valued at $116,650,831. Corporate insiders own 20.70% 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.