Avidian Wealth Solutions LLC Sells 882 Shares of Tesla, Inc. (NASDAQ:TSLA)

Avidian Wealth Solutions LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,482 shares of the electric vehicle producer’s stock after selling 882 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Tesla were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Noesis Capital Mangement Corp boosted its holdings in Tesla by 3.1% in the 4th quarter. Noesis Capital Mangement Corp now owns 32,778 shares of the electric vehicle producer’s stock worth $8,145,000 after buying an additional 1,000 shares during the period. FourThought Financial Partners LLC grew its position in shares of Tesla by 4.4% during the fourth quarter. FourThought Financial Partners LLC now owns 1,390 shares of the electric vehicle producer’s stock worth $345,000 after purchasing an additional 58 shares in the last quarter. Forte Capital LLC ADV raised its stake in Tesla by 3.6% during the 4th quarter. Forte Capital LLC ADV now owns 14,903 shares of the electric vehicle producer’s stock valued at $3,703,000 after purchasing an additional 521 shares during the period. Vestmark Advisory Solutions Inc. lifted its holdings in Tesla by 568.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 75,306 shares of the electric vehicle producer’s stock worth $18,712,000 after purchasing an additional 64,035 shares in the last quarter. Finally, AJOVista LLC bought a new position in Tesla in the 4th quarter worth approximately $569,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group decreased their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Canaccord Genuity Group cut their target price on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Redburn Atlantic started coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 price target on the stock. Cantor Fitzgerald assumed coverage on shares of Tesla in a research note on Thursday. They issued an “overweight” rating and a $230.00 price objective for the company. Finally, China Renaissance assumed coverage on Tesla in a research note on Monday, February 26th. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $185.90.

Tesla Trading Up 0.7 %

NASDAQ TSLA traded up $1.18 during trading on Friday, hitting $181.19. The stock had a trading volume of 75,491,539 shares, compared to its average volume of 112,969,304. The company has a market capitalization of $577.85 billion, a PE ratio of 46.22, a PEG ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $173.85 and a 200 day moving average price of $204.81.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 25.10% of the company’s stock.

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.