Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 35.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,052 shares of the electric vehicle producer’s stock after selling 587 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Tesla were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TSLA. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth $29,000. Clean Yield Group grew its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the third quarter worth $35,000. Finally, M&R Capital Management Inc. grew its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Canaccord Genuity Group upped their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Trading Up 3.1 %

Shares of TSLA opened at $426.50 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $389.94 and a 200-day simple moving average of $288.78. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. Equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

About Tesla

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.