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

Integrated Advisors Network LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,804 shares of the electric vehicle producer’s stock after selling 1,002 shares during the quarter. Tesla makes up 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 reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC raised its stake in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank bought a new position in shares of Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Northern Trust Corp raised its position in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 5.7%

Shares of TSLA stock opened at $326.09 on Wednesday. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 159.85, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $293.86 and its 200 day simple moving average is $333.15.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the sale, the chief financial officer now owns 5,924 shares of the company’s stock, valued at $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $24,274,300. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock valued at $273,791,775 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. Robert W. Baird reissued a “neutral” rating and issued a $320.00 price target on shares of Tesla in a report on Monday. Piper Sandler reiterated an “overweight” rating on shares of Tesla in a research note on Tuesday. JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $293.67.

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.