Avant Financial Advisors LLC Invests $519,000 in Tesla, Inc. (NASDAQ:TSLA)

Avant Financial Advisors LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,285 shares of the electric vehicle producer’s stock, valued at approximately $519,000.

Other hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla in the 4th quarter worth approximately $56,600,000. Stephens Consulting LLC increased its position in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its position in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. purchased a new position in shares of Tesla in the fourth quarter worth approximately $8,158,000. Finally, Vontobel Holding Ltd. increased its position in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after acquiring an additional 60,342 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. UBS Group dropped their target price on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Wedbush restated an “outperform” rating and set a $500.00 price target (up from $350.00) on shares of Tesla in a report on Friday, May 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $293.97.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 415,623 shares of company stock worth $116,650,831. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Shares of Tesla stock opened at $356.90 on Thursday. The firm has a fifty day simple moving average of $284.09 and a 200-day simple moving average of $333.75. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The stock has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 174.95, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.