Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Avalon Capital Management

Key Points

• Avalon Capital Management reduced its stake in Tesla by 14.0%, selling 1,000 shares, and now holds 6,139 shares valued at approximately $1.59 million.
• Analysts have mixed ratings on Tesla, with a consensus rating of "Hold" and a target price of $302.75, while some analysts set varied price objectives ranging from $137.00 to $450.00.
• Tesla reported a recent earnings miss with $0.40 EPS, falling short of the consensus estimate, and had year-over-year revenue down 11.8% for the quarter.

Avalon Capital Management lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,139 shares of the electric vehicle producer's stock after selling 1,000 shares during the quarter. Avalon Capital Management's holdings in Tesla were worth $1,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eagle Capital Management LLC bought a new stake in Tesla during the 4th quarter valued at about $331,000. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new position in Tesla in the fourth quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla during the 4th quarter valued at $2,367,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Tesla stock traded down $9.38 during trading hours on Thursday, reaching $309.66. 59,272,081 shares of the stock were exchanged, compared to its average volume of 107,835,406. The stock has a market cap of $998.81 billion, a P/E ratio of 178.69, a P/E/G ratio of 11.28 and a beta of 2.39. The firm's 50 day moving average is $323.61 and its 200 day moving average is $313.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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). The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 719,119 shares of company stock valued at $246,186,549 over the last 90 days. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. Robert W. Baird restated a "neutral" rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday. Mizuho reduced their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $303.31.

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.