Avaii Wealth Management LLC Buys 7,915 Shares of Tesla, Inc. (NASDAQ:TSLA)

Avaii Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 217.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,551 shares of the electric vehicle producer's stock after acquiring an additional 7,915 shares during the period. Tesla comprises approximately 1.6% of Avaii Wealth Management LLC's investment portfolio, making the stock its 17th largest holding. Avaii Wealth Management LLC's holdings in Tesla were worth $2,994,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Opal Wealth Advisors LLC raised its stake in Tesla by 5.5% in the first quarter. Opal Wealth Advisors LLC now owns 5,705 shares of the electric vehicle producer's stock valued at $1,479,000 after buying an additional 298 shares during the period. IAG Wealth Partners LLC raised its stake in Tesla by 43.2% in the first quarter. IAG Wealth Partners LLC now owns 388 shares of the electric vehicle producer's stock valued at $101,000 after buying an additional 117 shares during the period. Farmers & Merchants Investments Inc. raised its stake in Tesla by 346.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 14,237 shares of the electric vehicle producer's stock valued at $3,690,000 after buying an additional 11,047 shares during the period. Tritonpoint Wealth LLC raised its stake in Tesla by 4.9% in the first quarter. Tritonpoint Wealth LLC now owns 6,844 shares of the electric vehicle producer's stock valued at $1,774,000 after buying an additional 321 shares during the period. Finally, Matauro LLC raised its stake in Tesla by 351.9% in the first quarter. Matauro LLC now owns 6,114 shares of the electric vehicle producer's stock valued at $1,584,000 after buying an additional 4,761 shares during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. UBS Group decreased their target price on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and upped their target price for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $293.67.

Tesla Price Performance

Shares of TSLA traded up $6.20 during trading hours on Friday, reaching $325.31. The stock had a trading volume of 128,417,075 shares, compared to its average volume of 100,760,864. Tesla, Inc. has a 12 month low of $176.92 and a 12 month high of $488.54. The stock has a market capitalization of $1.05 trillion, a PE ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. 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 company's 50-day moving average is $299.39 and its two-hundred day moving average is $332.88.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 818,509 shares of company stock worth $273,791,775. 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.