Aveo Capital Partners LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Aveo Capital Partners LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,536 shares of the electric vehicle producer’s stock after selling 646 shares during the quarter. Aveo Capital Partners LLC’s holdings in Tesla were worth $1,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB increased its stake in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Tesla by 23.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 12,172 shares of the electric vehicle producer’s stock valued at $3,185,000 after purchasing an additional 2,335 shares during the period. Venture Visionary Partners LLC increased its position in Tesla by 1.5% during the third quarter. Venture Visionary Partners LLC now owns 41,371 shares of the electric vehicle producer’s stock worth $10,824,000 after purchasing an additional 617 shares during the last quarter. Integrity Wealth Solutions LLC raised its stake in Tesla by 6.1% during the third quarter. Integrity Wealth Solutions LLC now owns 8,347 shares of the electric vehicle producer’s stock worth $2,184,000 after purchasing an additional 477 shares during the period. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Tesla by 10.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,561 shares of the electric vehicle producer’s stock valued at $932,000 after purchasing an additional 345 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TSLA shares. Robert W. Baird dropped their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Piper Sandler raised their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $440.00 target price on shares of Tesla in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, January 30th. Finally, Truist Financial boosted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $326.50.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $354.11 on Wednesday. The stock has a market capitalization of $1.14 trillion, a P/E ratio of 173.58, a P/E/G ratio of 6.22 and a beta of 2.34. The firm’s 50-day moving average price is $405.64 and its two-hundred day moving average price is $309.75. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last ninety days. Company insiders own 20.70% of the company’s stock.

About Tesla

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.