Avaii Wealth Management LLC Has $1.12 Million Holdings in 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 Form 13F filing with the SEC. The firm owned 4,493 shares of the electric vehicle producer’s stock after selling 1,455 shares during the period. Tesla accounts for 0.7% of Avaii Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Avaii Wealth Management LLC’s holdings in Tesla were worth $1,117,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TSLA. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. bought a new stake in shares of Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC increased its position in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. bought a new stake in shares of Tesla during the third quarter worth about $53,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSLA shares. Guggenheim reissued a “sell” rating and set a $122.00 target price on shares of Tesla in a research report on Tuesday, April 23rd. Royal Bank of Canada reduced their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Finally, Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $184.32.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 20.90% of the company’s stock.

Tesla Trading Up 16.5 %

TSLA traded up $27.74 during midday trading on Monday, reaching $196.03. 160,939,325 shares of the company were exchanged, compared to its average volume of 103,877,734. The stock’s 50-day simple moving average is $175.04 and its 200 day simple moving average is $207.22. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The stock has a market capitalization of $625.18 billion, a P/E ratio of 48.47, a PEG ratio of 4.45 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

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.