Fermata Advisors LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Fermata Advisors LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,465 shares of the electric vehicle producer’s stock after selling 200 shares during the quarter. Fermata Advisors LLC’s holdings in Tesla were worth $639,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TSLA. Vista Finance LLC lifted its holdings in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. Jmac Enterprises LLC lifted its holdings in Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after purchasing an additional 26 shares during the last quarter. TFB Advisors LLC lifted its holdings in Tesla by 0.5% during the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after purchasing an additional 27 shares during the last quarter. Vista Capital Partners Inc. lifted its holdings in Tesla by 1.4% during the 4th quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock worth $795,000 after purchasing an additional 27 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its holdings in Tesla by 1.3% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after purchasing an additional 27 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 3.5%

Shares of NASDAQ:TSLA opened at $332.05 on Thursday. The stock’s 50-day moving average price is $291.12 and its 200-day moving average price is $334.34. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 162.77, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business posted $0.45 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSLA. Wells Fargo & Company dropped their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Oppenheimer restated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. HSBC lowered their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Canaccord Genuity Group lowered their price objective on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $293.97.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $24,274,300. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 870,721 shares of company stock valued at $286,248,728. 20.70% of the stock is currently owned by insiders.

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.