Strata Wealth Advisors LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Strata Wealth Advisors LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,087 shares of the electric vehicle producer’s stock after selling 292 shares during the period. Strata Wealth Advisors LLC’s holdings in Tesla were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Apexium Financial LP boosted its holdings in shares of Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares during the period. Forum Financial Management LP lifted its holdings in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after buying an additional 3,582 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC lifted its holdings in Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after buying an additional 598 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of Tesla stock traded up $0.46 on Friday, hitting $197.88. 95,438,068 shares of the company’s stock were exchanged, compared to its average volume of 68,945,696. The company has a 50-day simple moving average of $177.80 and a 200-day simple moving average of $191.38. The stock has a market capitalization of $631.08 billion, a PE ratio of 50.48, a PEG ratio of 4.91 and a beta of 2.32. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. As a group, equities analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on TSLA shares. Evercore ISI lowered their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. UBS Group lowered their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 target price on shares of Tesla in a research note on Monday, June 24th. Mizuho decreased their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $187.30.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock worth $19,285,643 in the last 90 days. 25.10% of the stock is currently owned by insiders.

Tesla Profile

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.