Tesla, Inc. (NASDAQ:TSLA) Position Increased by Avondale Wealth Management

Avondale Wealth Management boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 41.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,946 shares of the electric vehicle producer’s stock after purchasing an additional 1,165 shares during the period. Tesla accounts for 0.6% of Avondale Wealth Management’s holdings, making the stock its 25th biggest holding. Avondale Wealth Management’s holdings in Tesla were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla during the fourth quarter valued at $14,420,248,000. FMR LLC raised its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 2.6%

Tesla stock opened at $349.09 on Friday. The company’s fifty day simple moving average is $286.92 and its 200-day simple moving average is $333.95. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a market cap of $1.12 trillion, a P/E ratio of 171.12, a P/E/G ratio of 5.86 and a beta of 2.43.

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

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 984,783 shares of company stock worth $320,019,942. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley restated a “buy” rating and issued a $430.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Finally, Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $293.97.

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.