Tesla, Inc. $TSLA Shares Acquired by Arcus Capital Partners LLC

Arcus Capital Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,827 shares of the electric vehicle producer’s stock after purchasing an additional 473 shares during the quarter. Arcus Capital Partners LLC’s holdings in Tesla were worth $1,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares during the period. Bison Wealth LLC raised its holdings in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. GAMMA Investing LLC lifted its stake in shares of Tesla by 6.0% in the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock valued at $9,812,000 after purchasing an additional 2,153 shares in the last quarter. Finally, Osborne Partners Capital Management LLC purchased a new stake in shares of Tesla during the 1st quarter worth about $443,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Melius started coverage on shares of Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 price target for the company. Royal Bank Of Canada boosted their price objective on Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Benchmark reiterated a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Industrial Alliance Securities set a $300.00 price target on Tesla in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $363.54.

Tesla Stock Performance

Shares of Tesla stock opened at $439.31 on Friday. The firm has a market cap of $1.46 trillion, a PE ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm’s 50-day simple moving average is $387.54 and its 200-day simple moving average is $333.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% 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, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last three months. 19.90% of the stock is currently owned by corporate insiders.

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.