FRG Family Wealth Advisors LLC Sells 5,786 Shares of Tesla, Inc. (NASDAQ:TSLA)

FRG Family Wealth Advisors LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 90.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 602 shares of the electric vehicle producer's stock after selling 5,786 shares during the period. FRG Family Wealth Advisors LLC's holdings in Tesla were worth $243,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of Tesla in the fourth quarter valued at $38,000. Delos Wealth Advisors LLC increased its stake in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock valued at $40,000 after acquiring an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla in the fourth quarter worth about $44,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 2.0 %

Shares of TSLA traded down $5.02 during mid-day trading on Monday, hitting $247.29. 64,471,368 shares of the company's stock were exchanged, compared to its average volume of 95,887,772. The company has a 50-day simple moving average of $285.19 and a 200 day simple moving average of $323.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $795.41 billion, a PE ratio of 121.22, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSLA shares. Stifel Nicolaus lowered their price objective on Tesla from $474.00 to $455.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Monday, February 10th. Robert W. Baird lowered their target price on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $425.00 price target on shares of Tesla in a research report on Thursday, April 3rd. Finally, Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Eight analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $298.59.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 over the last three months. Insiders own 20.70% of the company's stock.

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.