1,429 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Avid Wealth Partners LLC

Avid Wealth Partners LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 1st quarter, HoldingsChannel reports. The fund purchased 1,429 shares of the electric vehicle producer’s stock, valued at approximately $370,000.

Several other institutional investors have also recently made changes to their positions in TSLA. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. Pflug Koory LLC lifted its holdings in shares of Tesla by 370.4% in the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. GS Investments Inc. grew its position in Tesla by 193.3% in the 4th 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 during the period. Finally, Navigoe LLC bought a new position in shares of Tesla in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. JPMorgan Chase & Co. decreased their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. Benchmark restated a “buy” rating and set a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Bank of America cut their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Wedbush set a $500.00 price target on Tesla in a research report on Thursday, June 5th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $293.67.

Tesla Stock Up 1.9%

Shares of TSLA opened at $325.31 on Monday. The firm has a market cap of $1.05 trillion, a P/E ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $177.00 and a 1 year high of $488.54. The stock has a 50 day simple moving average of $299.39 and a two-hundred day simple moving average of $332.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the business posted $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred 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 $6,737,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $24,274,300. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock worth $273,791,775 over the last three months. Company insiders own 20.70% of the company’s stock.

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.