Avior Wealth Management LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Avior Wealth Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,010 shares of the electric vehicle producer's stock after selling 2,909 shares during the period. Avior Wealth Management LLC's holdings in Tesla were worth $4,408,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TSLA. Wealth Group Ltd. purchased a new stake in shares of Tesla during the 4th quarter worth $275,000. Tallon Kerry Patrick purchased a new stake in shares of Tesla during the 4th quarter worth $374,000. Eagle Capital Management LLC purchased a new stake in shares of Tesla during the 4th quarter worth $331,000. Brighton Jones LLC lifted its position in Tesla by 11.8% in 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 during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in 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 acquiring an additional 931 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Tesla from $295.00 to $285.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Glj Research reissued a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $293.67.

Tesla Stock Performance

TSLA opened at $322.05 on Friday. The stock has a market cap of $1.04 trillion, a P/E ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock's 50 day simple moving average is $304.81 and its 200 day simple moving average is $332.35. Tesla, Inc. has a 1-year low of $179.66 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last quarter. Company insiders own 20.70% of the company's stock.

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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