Integrated Advisors Network LLC Sells 1,002 Shares of Tesla, Inc. (NASDAQ:TSLA)

Integrated Advisors Network LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the 1st quarter, Holdings Channel reports. The firm owned 48,804 shares of the electric vehicle producer’s stock after selling 1,002 shares during the quarter. Tesla comprises 0.6% of Integrated Advisors Network LLC’s holdings, making the stock its 26th largest position. Integrated Advisors Network LLC’s holdings in Tesla were worth $12,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Wealth Group Ltd. bought a new position in shares of Tesla during the 4th quarter worth about $275,000. Comprehensive Financial Planning Inc. PA bought a new position in Tesla in the fourth quarter worth approximately $1,361,000. Tallon Kerry Patrick bought a new position in Tesla in the fourth quarter worth approximately $374,000. Eagle Capital Management LLC bought a new position in Tesla in the fourth quarter worth approximately $331,000. Finally, Brighton Jones LLC boosted its holdings in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $326.09 on Wednesday. The firm has a market cap of $1.05 trillion, a PE ratio of 159.85, a PEG ratio of 5.86 and a beta of 2.47. The stock’s fifty day moving average price is $293.86 and its two-hundred day moving average price is $333.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TSLA shares. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Glj Research reiterated a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada dropped their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $293.67.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,395 shares of the firm’s 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 transaction, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 in the last ninety days. 20.70% 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.