Avior Wealth Management LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Avior Wealth Management LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,919 shares of the electric vehicle producer’s stock after selling 4,059 shares during the quarter. Avior Wealth Management LLC’s holdings in Tesla were worth $8,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. World Investment Advisors LLC raised its position in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management raised its holdings in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd lifted its position in shares of Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares in the last quarter. MML Investors Services LLC boosted its stake in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $406.58 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.31 trillion, a P/E ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The stock has a 50 day moving average of $398.82 and a 200-day moving average of $294.03.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, analysts expect that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $230.00 to $515.00 in a research note on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. HSBC restated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, Cantor Fitzgerald upped their target price on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $313.84.

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.