Aveo Capital Partners LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Aveo Capital Partners LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 15.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,536 shares of the electric vehicle producer’s stock after selling 646 shares during the period. Aveo Capital Partners LLC’s holdings in Tesla were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covenant Asset Management LLC grew its holdings in shares of Tesla by 71.3% in the fourth quarter. Covenant Asset Management LLC now owns 2,206 shares of the electric vehicle producer’s stock valued at $891,000 after purchasing an additional 918 shares during the period. Kessler Investment Group LLC boosted its holdings in Tesla by 3.5% in the 4th quarter. Kessler Investment Group LLC now owns 22,575 shares of the electric vehicle producer’s stock valued at $9,117,000 after purchasing an additional 760 shares during the last quarter. Empire Life Investments Inc. purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $2,280,000. BXM Wealth LLC purchased a new stake in shares of Tesla during the 4th quarter valued at approximately $410,000. Finally, Myriad Asset Management US LP acquired a new position in Tesla in the fourth quarter valued at approximately $3,185,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Wedbush increased their target price on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Finally, Evercore ISI boosted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $326.50.

Tesla Stock Down 0.5 %

TSLA stock opened at $354.11 on Wednesday. The stock has a market capitalization of $1.14 trillion, a PE ratio of 173.58, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a fifty day moving average of $405.64 and a 200-day moving average of $309.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

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 the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

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.