Avaii Wealth Management LLC Purchases 31 Shares of Tesla, Inc. (NASDAQ:TSLA)

Avaii Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,636 shares of the electric vehicle producer’s stock after acquiring an additional 31 shares during the quarter. Tesla accounts for about 0.7% of Avaii Wealth Management LLC’s holdings, making the stock its 21st largest position. Avaii Wealth Management LLC’s holdings in Tesla were worth $1,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter valued at approximately $29,000. Clean Yield Group boosted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla in the third quarter valued at $35,000. M&R Capital Management Inc. raised its stake in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Tesla during the second quarter valued at $48,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Guggenheim upped their target price on shares of Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Piper Sandler boosted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Finally, Barclays lifted their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $313.84.

Tesla Stock Up 0.3 %

NASDAQ:TSLA opened at $398.31 on Wednesday. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 109.13, a PEG ratio of 8.42 and a beta of 2.30. 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 50-day moving average price of $399.99 and a two-hundred day moving average price of $295.57. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

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.