Tesla, Inc. $TSLA Shares Bought by Avion Wealth

Key Points

• Avion Wealth increased its stake in Tesla, Inc. by 75.4% during the 2nd quarter, acquiring a total of 5,238 shares valued at approximately $1.66 million.
• Insider transactions included James R. Murdoch selling 60,000 shares for over $25 million, resulting in an 8.61% decrease in his holdings.
• Analysts have a mixed view on Tesla, with a consensus rating of "Hold" and an average target price of $375.50, while price targets range from $300 to $490.

Avion Wealth grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 75.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,238 shares of the electric vehicle producer's stock after acquiring an additional 2,252 shares during the quarter. Tesla comprises 0.4% of Avion Wealth's portfolio, making the stock its 28th biggest position. Avion Wealth's holdings in Tesla were worth $1,663,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. LGT Financial Advisors LLC acquired a new stake in shares of Tesla in the second quarter valued at about $29,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at about $27,000. Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Evergreen Private Wealth LLC boosted its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock valued at $35,000 after purchasing an additional 81 shares during the last quarter. Finally, Centennial Bank AR boosted its holdings in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price target on Tesla from $490.00 to $482.00 and set a "buy" rating for the company in a report on Thursday. Barclays reissued a "negative" rating and issued a $350.00 price target (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. Industrial Alliance Securities set a $300.00 price target on Tesla in a report on Monday, October 13th. Stifel Nicolaus set a $483.00 price target on Tesla and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average target price of $375.50.

Tesla Trading Down 3.7%

Shares of NASDAQ TSLA opened at $422.94 on Thursday. The company has a market cap of $1.41 trillion, a price-to-earnings ratio of 244.85, a price-to-earnings-growth ratio of 15.91 and a beta of 2.08. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $393.73 and its 200 day simple moving average is $336.97.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.

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