Avondale Wealth Management Has $1.02 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Avondale Wealth Management boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,946 shares of the electric vehicle producer's stock after buying an additional 1,165 shares during the quarter. Tesla makes up about 0.6% of Avondale Wealth Management's holdings, making the stock its 25th biggest position. Avondale Wealth Management's holdings in Tesla were worth $1,023,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of 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 purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the 4th quarter valued at about $38,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 984,783 shares of company stock worth $320,019,942 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $9.34 during trading on Friday, reaching $349.09. The company had a trading volume of 122,996,137 shares, compared to its average volume of 98,157,709. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The stock has a market cap of $1.12 trillion, a PE ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business's 50 day moving average price is $286.92 and its 200-day moving average price is $333.97.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Glj Research reiterated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Wedbush reiterated an "outperform" rating and set a $500.00 target price (up from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Bank of America decreased their target price on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus target price of $293.97.

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.