Avidian Wealth Solutions LLC Sells 1,745 Shares of Tesla, Inc. (NASDAQ:TSLA)

Avidian Wealth Solutions LLC lowered its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 31.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,737 shares of the electric vehicle producer’s stock after selling 1,745 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Tesla were worth $657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Daymark Wealth Partners LLC raised its position in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the last quarter. Patten & Patten Inc. TN raised its position in Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares during the last quarter. Caerus Investment Advisors LLC raised its position in Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after purchasing an additional 49 shares during the last quarter. Salvus Wealth Management LLC raised its position in Tesla by 3.2% in the 4th quarter. Salvus Wealth Management LLC now owns 1,617 shares of the electric vehicle producer’s stock valued at $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Monte Financial Group LLC raised its position in Tesla by 3.4% in the 4th quarter. Monte Financial Group LLC now owns 1,526 shares of the electric vehicle producer’s stock valued at $379,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on TSLA shares. The Goldman Sachs Group lifted their target price on Tesla from $175.00 to $248.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group lowered their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Barclays lowered their target price 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. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, July 1st. Finally, Wedbush lifted their target price on Tesla from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. Seven research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $195.39.

Check Out Our Latest Stock Report on Tesla

Tesla Stock Performance

NASDAQ TSLA traded up $0.93 during trading on Wednesday, reaching $263.26. 127,980,891 shares of the company’s stock were exchanged, compared to its average volume of 98,692,945. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The business has a 50 day moving average price of $188.52 and a 200-day moving average price of $190.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock has a market capitalization of $839.59 billion, a P/E ratio of 67.16, a PEG ratio of 6.27 and a beta of 2.31.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Sell-side analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Tesla Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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