Avior Wealth Management LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Avior Wealth Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,919 shares of the electric vehicle producer’s stock after selling 4,059 shares during the quarter. Avior Wealth Management LLC’s holdings in Tesla were worth $8,044,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Geode Capital Management LLC lifted its stake in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC raised its holdings in shares of Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus upped their target price on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Canaccord Genuity Group raised their price objective on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Cantor Fitzgerald increased their price target on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research note on Monday, January 6th. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $313.84.

Tesla Stock Down 1.4 %

Shares of NASDAQ TSLA opened at $406.58 on Friday. The business has a 50-day moving average price of $398.82 and a 200 day moving average price of $294.03. The stock has a market cap of $1.31 trillion, a PE ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock valued at $212,451,751 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

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.