Avaii Wealth Management LLC Sells 1,455 Shares of Tesla, Inc. (NASDAQ:TSLA)

Avaii Wealth Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,493 shares of the electric vehicle producer’s stock after selling 1,455 shares during the period. Tesla accounts for approximately 0.7% of Avaii Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Avaii Wealth Management LLC’s holdings in Tesla were worth $1,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. My Legacy Advisors LLC lifted its stake in Tesla by 33.4% during the 3rd quarter. My Legacy Advisors LLC now owns 1,238 shares of the electric vehicle producer’s stock valued at $310,000 after acquiring an additional 310 shares during the period. Global Wealth Strategies & Associates lifted its stake in Tesla by 23.5% during the 3rd quarter. Global Wealth Strategies & Associates now owns 1,403 shares of the electric vehicle producer’s stock valued at $351,000 after acquiring an additional 267 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Tesla by 8.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,216 shares of the electric vehicle producer’s stock valued at $2,056,000 after acquiring an additional 614 shares during the period. Atlantic Union Bankshares Corp lifted its stake in Tesla by 5.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 13,683 shares of the electric vehicle producer’s stock valued at $3,424,000 after acquiring an additional 662 shares during the period. Finally, Brookstone Capital Management lifted its stake in Tesla by 23.4% during the 3rd quarter. Brookstone Capital Management now owns 87,788 shares of the electric vehicle producer’s stock valued at $21,966,000 after acquiring an additional 16,626 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, Barclays dropped their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $184.32.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last three months. 20.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $27.74 during trading on Monday, reaching $196.03. The company had a trading volume of 160,939,325 shares, compared to its average volume of 103,877,734. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The stock has a market capitalization of $625.18 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. The stock has a 50-day moving average price of $175.04 and a two-hundred day moving average price of $207.22. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

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.