Panoramic Investment Advisors LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Panoramic Investment Advisors LLC reduced its stock position in Tesla by 48.2%, owning 1,036 shares after selling 963 shares in the first quarter, valuing their holdings at $268,000.
• Wall Street analysts have mixed views on Tesla, with ten analysts rating it as a sell, while the consensus rating is a "Hold" with a target price of $302.75.
• Tesla's stock saw a trading volume of 147,437,834 shares recently, with its stock price increasing to $316.06, following a 1-year low of $182.00 and a high of $488.54.

Panoramic Investment Advisors LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 48.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,036 shares of the electric vehicle producer's stock after selling 963 shares during the quarter. Panoramic Investment Advisors LLC's holdings in Tesla were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rinkey Investments increased its position in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after acquiring an additional 29 shares during the period. True Wealth Design LLC increased its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. Aldebaran Financial Inc. grew its stake in shares of Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC grew its stake in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Finally, Capital Management Associates Inc grew its stake in shares of Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TSLA shares. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Piper Sandler reiterated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. HSBC reiterated a "reduce" rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Finally, Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $302.75.

Tesla Price Performance

Tesla stock traded up $10.76 during mid-day trading on Friday, reaching $316.06. The company had a trading volume of 147,437,834 shares, compared to its average volume of 90,285,424. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.54. The stock's 50-day simple moving average is $324.70 and its 200-day simple moving average is $314.65. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a market capitalization of $1.02 trillion, a P/E ratio of 182.69, a P/E/G ratio of 11.59 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction that occurred 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 completion of the transaction, the director directly owned 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by corporate insiders.

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.