Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by ARS Investment Partners LLC

ARS Investment Partners LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 118.2% in the 4th quarter, HoldingsChannel reports. The firm owned 4,394 shares of the electric vehicle producer’s stock after buying an additional 2,380 shares during the quarter. ARS Investment Partners LLC’s holdings in Tesla were worth $1,774,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

TSLA opened at $412.38 on Friday. The firm has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.98, a price-to-earnings-growth ratio of 8.55 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company’s 50-day moving average price is $395.08 and its 200 day moving average price is $292.13. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TSLA shares. Canaccord Genuity Group boosted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $309.48.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 617,886 shares of company stock worth $212,451,751 over the last quarter. 20.70% of the stock is owned by company insiders.

Tesla 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.