Aveo Capital Partners LLC Sells 2,295 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Aveo Capital Partners LLC has reduced its holdings in Tesla, Inc. by 64.9%, selling 2,295 shares to own 1,241 shares valued at approximately $343,000 at the end of the last quarter.
• Various institutional investors, including Susquehanna Fundamental Investments LLC and Means Investment CO. Inc., have recently increased their positions in Tesla, indicating strong institutional interest with 66.20% of the stock owned by institutional investors.
• Recent analyst ratings reflect a mixed outlook for Tesla, with ten analysts rating it as a sell and seventeen as a buy, while the stock currently has a consensus price target of $303.31.

Aveo Capital Partners LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 64.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,241 shares of the electric vehicle producer's stock after selling 2,295 shares during the quarter. Aveo Capital Partners LLC's holdings in Tesla were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in Tesla in the 4th quarter worth approximately $8,158,000. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Piper Sandler restated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Morgan Stanley restated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Finally, Robert W. Baird restated a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Up 2.3%

Shares of NASDAQ TSLA opened at $329.61 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.06 trillion, a P/E ratio of 190.53, a PEG ratio of 11.46 and a beta of 2.33. Tesla, Inc. has a 1 year low of $194.67 and a 1 year high of $488.54. The firm has a 50-day simple moving average of $318.68 and a two-hundred day simple moving average of $306.71.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 602,724 shares of company stock worth $214,176,831. Insiders own 20.70% 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.