Atria Wealth Solutions Inc. Sells 3,434 Shares of Tesla, Inc. (NASDAQ:TSLA)

Atria Wealth Solutions Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,044 shares of the electric vehicle producer’s stock after selling 3,434 shares during the period. Tesla accounts for about 0.7% of Atria Wealth Solutions Inc.’s investment portfolio, making the stock its 18th biggest position. Atria Wealth Solutions Inc.’s holdings in Tesla were worth $53,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Mount Vernon Associates Inc. MD raised its stake in shares of Tesla by 5.3% during 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 last quarter. Oak Ridge Investments LLC raised its stake in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after buying an additional 1,405 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after buying an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Tesla by 16.6% during 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 last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA traded up $17.45 on Wednesday, hitting $162.13. 180,807,331 shares of the stock were exchanged, compared to its average volume of 103,011,320. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The business’s fifty day moving average is $176.28 and its 200 day moving average is $208.91. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a market capitalization of $516.35 billion, a PE ratio of 37.62, a P/E/G ratio of 3.75 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 over the last ninety days. 20.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. UBS Group decreased 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. Edward Jones cut shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Jefferies Financial Group decreased their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. HSBC decreased their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a report on Wednesday. Finally, KGI Securities restated a “neutral” rating and set a $213.00 price objective (down previously from $309.00) on shares of Tesla in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $186.22.

Tesla Company 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.