Avior Wealth Management LLC Has $7.20 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Avior Wealth Management LLC has increased its holdings in Tesla, Inc. by 33.2% during the 2nd quarter, now owning over 22,653 shares worth approximately $7.20 million.
• Several other institutional investors also significantly increased their positions in Tesla in the first quarter, contributing to institutional ownership reaching 66.20% of the stock.
• Insider trading activity includes SVP Xiaotong Zhu selling 20,000 shares for $7.27 million and Director James R. Murdoch selling 120,000 shares for over $42 million, indicating notable changes in management holdings.

Avior Wealth Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,653 shares of the electric vehicle producer's stock after acquiring an additional 5,643 shares during the quarter. Avior Wealth Management LLC's holdings in Tesla were worth $7,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC raised its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. grew its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last ninety days. Corporate insiders own 19.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. William Blair reiterated a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. CICC Research boosted their price objective on Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Finally, Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $332.33.

Tesla Price Performance

Shares of TSLA stock opened at $440.40 on Monday. The stock's fifty day simple moving average is $352.05 and its 200 day simple moving average is $315.40. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 the consensus estimate of $23.18 billion. During the same period in the previous year, the business posted $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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