Stratos Wealth Partners LTD. Sells 9,785 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stratos Wealth Partners LTD. cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,764 shares of the electric vehicle producer's stock after selling 9,785 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Tesla were worth $22,486,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. increased its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the fourth quarter worth approximately $38,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TSLA. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Royal Bank Of Canada reduced their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $301.60.

Tesla Stock Down 6.8%

Tesla stock opened at $293.94 on Tuesday. The business has a fifty day moving average of $321.10 and a two-hundred day moving average of $323.46. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $946.77 billion, a P/E ratio of 161.51, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

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 for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations 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 prior year, the company earned $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the 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 completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 829,509 shares of company stock worth $277,648,925. Company 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.

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