Avaii Wealth Management LLC Has $5.75 Million Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Avaii Wealth Management LLC increased its holdings in Tesla, Inc. by 56.7% during the second quarter, owning 18,097 shares valued at approximately $5.75 million.
• Tesla's recent earnings report revealed $0.40 earnings per share, missing analysts' estimates, with a revenue of $22.50 billion for the quarter, down 11.8% year-over-year.
• Insider transactions included Director James R. Murdoch selling 60,000 shares for over $25 million, reducing his ownership by 8.61%.

Avaii Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 56.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,097 shares of the electric vehicle producer's stock after purchasing an additional 6,546 shares during the quarter. Tesla makes up approximately 2.6% of Avaii Wealth Management LLC's portfolio, making the stock its 15th largest holding. Avaii Wealth Management LLC's holdings in Tesla were worth $5,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after purchasing an additional 34 shares during the period. Acorn Wealth Advisors LLC grew its holdings in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after buying an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd grew its holdings in Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after buying an additional 36 shares during the last quarter. ACT Wealth Management LLC increased its position in Tesla by 0.7% in the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after buying an additional 36 shares during the period. Finally, Capital Management Associates Inc lifted its holdings in shares of Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after buying an additional 38 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $423.39 on Friday. The stock has a market cap of $1.41 trillion, a P/E ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company's 50-day simple moving average is $349.83 and its 200 day simple moving average is $312.97.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TSLA shares. Dbs Bank raised their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. HSBC reissued a "reduce" rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Finally, Stifel Nicolaus set a $440.00 price target on Tesla in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $326.74.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last three months. Company insiders own 19.90% of the company's stock.

Tesla 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.

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