Rollins Financial Advisors LLC Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Rollins Financial Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,826 shares of the electric vehicle producer's stock after selling 17,550 shares during the period. Tesla makes up 5.2% of Rollins Financial Advisors LLC's holdings, making the stock its 6th biggest holding. Rollins Financial Advisors LLC's holdings in Tesla were worth $33,045,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Destination Wealth Management lifted its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. MML Investors Services LLC lifted its stake in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock worth $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Worth Asset Management LLC increased its stake in Tesla by 383.1% in the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after purchasing an additional 6,593 shares during the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. raised its holdings in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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Tesla Stock Performance

Shares of Tesla stock traded down $4.54 during trading on Friday, reaching $247.86. The company's stock had a trading volume of 86,480,283 shares, compared to its average volume of 95,727,679. The firm has a market cap of $797.24 billion, a PE ratio of 120.59, 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. 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 business's 50-day moving average price is $287.99 and its 200-day moving average price is $323.12.

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

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and raised their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. HSBC cut their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. Benchmark lowered their target price on shares of Tesla from $475.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $425.00 price target on shares of Tesla in a research report on Thursday, April 3rd. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $298.59.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 374,228 shares of company stock worth $123,791,123. Company insiders own 20.70% of the company's stock.

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.