Stratos Wealth Advisors LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Stratos Wealth Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,944 shares of the electric vehicle producer's stock after selling 1,173 shares during the period. Stratos Wealth Advisors LLC's holdings in Tesla were worth $2,059,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC grew its stake in Tesla by 40.1% during 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 acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its stake in Tesla by 27,378.6% during 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 acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Tesla by 4,963.0% during 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 acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 829,509 shares of company stock worth $277,648,925. Insiders own 20.70% of the company's stock.

Tesla Stock Down 0.6%

Shares of TSLA traded down $1.93 during midday trading on Wednesday, reaching $295.88. The stock had a trading volume of 75,143,508 shares, compared to its average volume of 100,727,258. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company's fifty day simple moving average is $321.21 and its two-hundred day simple moving average is $323.29. The company has a market cap of $953.02 billion, a price-to-earnings ratio of 162.57, a PEG ratio of 8.57 and a beta of 2.39. 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 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the business earned $0.45 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on TSLA shares. UBS Group set a $290.00 price objective on shares of Tesla in a research note on Monday, June 30th. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Tuesday. Piper Sandler reissued an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $301.13.

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.