First Horizon Advisors Inc. Sells 779 Shares of Tesla, Inc. (NASDAQ:TSLA)

First Horizon Advisors Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,585 shares of the electric vehicle producer’s stock after selling 779 shares during the quarter. First Horizon Advisors Inc.’s holdings in Tesla were worth $2,879,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Bailard Inc. boosted its position in shares of Tesla by 27.1% in the third quarter. Bailard Inc. now owns 6,878 shares of the electric vehicle producer’s stock worth $1,721,000 after purchasing an additional 1,465 shares during the period. Brown Advisory Inc. lifted its position in shares of Tesla by 6.6% in the third quarter. Brown Advisory Inc. now owns 25,999 shares of the electric vehicle producer’s stock valued at $6,505,000 after acquiring an additional 1,604 shares in the last quarter. BLB&B Advisors LLC boosted its stake in shares of Tesla by 4.0% in the third quarter. BLB&B Advisors LLC now owns 3,051 shares of the electric vehicle producer’s stock worth $763,000 after acquiring an additional 117 shares during the period. SFE Investment Counsel purchased a new stake in shares of Tesla during the third quarter worth about $222,000. Finally, Strategic Investment Advisors MI lifted its holdings in Tesla by 13.0% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,769 shares of the electric vehicle producer’s stock worth $443,000 after purchasing an additional 204 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 0.7 %

Tesla stock opened at $181.19 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a market cap of $577.85 billion, a PE ratio of 46.22, a PEG ratio of 4.71 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The business’s 50-day simple moving average is $174.07 and its two-hundred day simple moving average is $205.92.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Evercore ISI lowered their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada cut their price objective on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Redburn Atlantic started coverage on Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. TD Cowen cut their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Finally, KGI Securities reiterated a “neutral” rating and set a $213.00 target price (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $185.90.

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.