Avalon Investment & Advisory Purchases 6,709 Shares of Tesla, Inc. (NASDAQ:TSLA)

Avalon Investment & Advisory boosted its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 169.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,658 shares of the electric vehicle producer’s stock after purchasing an additional 6,709 shares during the quarter. Avalon Investment & Advisory’s holdings in Tesla were worth $2,827,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC increased its holdings in shares of Tesla by 224.1% during the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 65 shares in the last quarter. Coston McIsaac & Partners increased its holdings in shares of Tesla by 200.0% during the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 64 shares in the last quarter. TFO TDC LLC acquired a new position in shares of Tesla during the second quarter valued at about $27,000. Horan Securities Inc. increased its holdings in Tesla by 164.3% in the 2nd quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 23 shares during the period. Finally, West Oak Capital LLC acquired a new position in Tesla in the 3rd quarter worth approximately $27,000. 43.00% of the stock is currently owned by institutional investors.

Tesla Stock Up 4.9 %

Shares of TSLA opened at $133.42 on Friday. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29. The company has a market capitalization of $421.31 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 0.95 and a beta of 2.02. The stock has a fifty day simple moving average of $150.72 and a two-hundred day simple moving average of $222.02. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLAGet Rating) last issued its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business had revenue of $21.45 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 55.9% on a year-over-year basis. As a group, equities analysts forecast that Tesla, Inc. will post 3.6 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Mizuho cut their price target on shares of Tesla from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, January 5th. Jefferies Financial Group cut their price target on shares of Tesla from $350.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup cut their price target on shares of Tesla from $176.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, January 13th. Truist Financial cut their price target on shares of Tesla from $348.00 to $299.00 and set a “buy” rating on the stock in a report on Tuesday, January 3rd. Finally, The Goldman Sachs Group lowered their price objective on Tesla from $235.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, January 2nd. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $218.29.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Zachary Kirkhorn sold 3,751 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $222.50, for a total transaction of $834,597.50. Following the completion of the sale, the chief financial officer now directly owns 185,276 shares of the company’s stock, valued at approximately $41,223,910. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at $14,484,090.60. The disclosure for this sale can be found here. Insiders sold 24,172,833 shares of company stock valued at $4,492,567,309 in the last three months. 25.10% of the stock is currently owned by insiders.

Tesla Company Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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