Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Avalon Trust Co

Avalon Trust Co cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 662 shares of the electric vehicle producer’s stock after selling 140 shares during the quarter. Avalon Trust Co’s holdings in Tesla were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC increased its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cantor Fitzgerald decreased their target price on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Royal Bank Of Canada reiterated an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. Barclays reduced their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Roth Mkm reduced their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Down 1.8%

TSLA stock opened at $302.63 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $976.12 billion, a P/E ratio of 174.93, a P/E/G ratio of 10.63 and a beta of 2.33. The business has a 50-day moving average of $322.22 and a 200-day moving average of $310.31. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 719,119 shares of company stock valued at $246,186,549. Corporate insiders own 20.70% of the company’s stock.

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.