Laurel Wealth Advisors LLC Has $301,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Laurel Wealth Advisors LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,161 shares of the electric vehicle producer’s stock after selling 200 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Tesla were worth $301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vista Finance LLC lifted its stake in shares of Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. Jmac Enterprises LLC grew its holdings in shares of 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 in the last quarter. TFB Advisors LLC increased its holdings in Tesla by 0.5% in the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock valued at $2,105,000 after buying an additional 27 shares during the period. Vista Capital Partners Inc. increased its stake in Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after acquiring an additional 27 shares during the period. Finally, Blackston Financial Advisory Group LLC lifted its position in shares of 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 buying an additional 27 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 directly owns 85,000 shares of the company’s stock, valued at $24,274,300. This represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the company’s stock in a transaction on Monday, June 9th. The stock was 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. This trade represents a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 818,509 shares of company stock worth $273,791,775. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TSLA. Wedbush set a $500.00 price target on Tesla in a research report on Thursday, June 5th. Royal Bank of Canada dropped their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Guggenheim reiterated a “sell” rating and issued a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $293.67.

Tesla Stock Up 5.7%

Shares of TSLA opened at $326.09 on Wednesday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization 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 50-day moving average price is $293.86 and its two-hundred day moving average price is $333.15.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the firm posted $0.45 EPS. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.