Strata Wealth Advisors LLC Sells 1,538 Shares of Tesla, Inc. (NASDAQ:TSLA)

Strata Wealth Advisors LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 53.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,346 shares of the electric vehicle producer's stock after selling 1,538 shares during the quarter. Strata Wealth Advisors LLC's holdings in Tesla were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at about $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $300.19.

Tesla Trading Down 0.5%

Shares of Tesla stock traded down $1.67 during trading on Tuesday, hitting $315.23. 40,128,498 shares of the company were exchanged, compared to its average volume of 99,284,075. The firm has a market capitalization of $1.02 trillion, a P/E ratio of 173.27, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The firm's fifty day moving average price is $323.33 and its 200 day moving average price is $318.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by company 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.