Avid Wealth Partners LLC Invests $370,000 in Tesla, Inc. (NASDAQ:TSLA)

Avid Wealth Partners LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,429 shares of the electric vehicle producer’s stock, valued at approximately $370,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. Pflug Koory LLC grew its holdings in shares of Tesla by 370.4% in the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. GS Investments Inc. increased its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Finally, Navigoe LLC bought a new stake in Tesla during the fourth quarter worth about $37,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. Glj Research restated a “sell” rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Finally, TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $293.67.

Tesla Stock Up 1.9%

Shares of NASDAQ:TSLA opened at $325.31 on Monday. Tesla, Inc. has a 52-week low of $177.00 and a 52-week high of $488.54. The company has a market capitalization of $1.05 trillion, a PE ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a fifty day moving average of $299.39 and a 200-day moving average of $332.88.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) 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 period in the previous year, the company earned $0.45 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 completion of the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock worth $273,791,775 in the last quarter. 20.70% of the stock is owned by insiders.

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.