Avion Wealth Purchases 89 Shares of Tesla, Inc. $TSLA

Avion Wealth boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,075 shares of the electric vehicle producer’s stock after acquiring an additional 89 shares during the period. Avion Wealth’s holdings in Tesla were worth $977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. U S Global Investors Inc. grew its holdings in Tesla by 5.4% during the 2nd quarter. U S Global Investors Inc. now owns 7,840 shares of the electric vehicle producer’s stock valued at $2,490,000 after buying an additional 400 shares in the last quarter. Financial Connections Group Inc. grew its stake in Tesla by 69.9% during the second quarter. Financial Connections Group Inc. now owns 1,390 shares of the electric vehicle producer’s stock valued at $441,000 after acquiring an additional 572 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in Tesla during the second quarter valued at $234,000. Trust Co. of Toledo NA OH grew its stake in Tesla by 17.2% during the second quarter. Trust Co. of Toledo NA OH now owns 3,403 shares of the electric vehicle producer’s stock valued at $1,081,000 after acquiring an additional 500 shares in the last quarter. Finally, JNBA Financial Advisors grew its position in shares of Tesla by 29.5% during the second quarter. JNBA Financial Advisors now owns 1,569 shares of the electric vehicle producer’s stock valued at $498,000 after purchasing an additional 357 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA opened at $413.49 on Monday. The business has a fifty day moving average of $375.97 and a 200 day moving average of $328.28. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.37 trillion, a P/E ratio of 239.01, a PEG ratio of 14.92 and a beta of 2.08.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on TSLA shares. China Renaissance restated a “hold” rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Mizuho raised their target price on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada lifted their price objective on shares of Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $354.67.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company 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.