Avant Capital LLC Has $749,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Avant Capital LLC reduced its position in Tesla, Inc. by 50.7%, holding 2,892 shares worth $749,000 after selling 2,973 shares in the first quarter.
• Tesla's latest earnings report indicated a decline in revenue, with EPS at $0.40, missing estimates, and revenue dropping by 11.8% year-over-year.
• Various analysts adjusted their price targets for Tesla, with Goldman Sachs lowering its target to $285.00 and Benchmark raising it to $475.00 amid mixed ratings across the board.

Avant Capital LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 50.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,892 shares of the electric vehicle producer's stock after selling 2,973 shares during the quarter. Avant Capital LLC's holdings in Tesla were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rinkey Investments boosted its holdings in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after acquiring an additional 29 shares during the last quarter. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Aldebaran Financial Inc. boosted its holdings in Tesla by 3.1% in the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after acquiring an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC boosted its holdings in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after acquiring an additional 36 shares during the last quarter. Finally, Solutions 4 Wealth Ltd boosted its holdings in Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after acquiring an additional 36 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 2.3%

NASDAQ TSLA opened at $329.61 on Friday. Tesla, Inc. has a 12 month low of $194.67 and a 12 month high of $488.54. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 190.53, a PEG ratio of 11.32 and a beta of 2.33. The business has a fifty day simple moving average of $318.68 and a 200 day simple moving average of $308.19. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group reduced their target price on Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Benchmark restated a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Canaccord Genuity Group increased their price target on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Guggenheim restated a "sell" rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $303.31.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, 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 the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by company insiders.

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.

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