Arcadia Wealth Management Inc. Acquires Shares of 1,692 Tesla, Inc. (NASDAQ:TSLA)

Arcadia Wealth Management Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,692 shares of the electric vehicle producer's stock, valued at approximately $683,000. Tesla comprises approximately 0.6% of Arcadia Wealth Management Inc.'s portfolio, making the stock its 28th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. grew its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla in the fourth quarter worth $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 2.5%

Shares of TSLA stock traded down $8.83 during trading hours on Friday, reaching $349.60. 81,035,318 shares of the stock traded hands, compared to its average volume of 97,799,409. The business has a fifty day moving average price of $285.70 and a 200 day moving average price of $333.80. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.13 trillion, a PE ratio of 171.17, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Piper Sandler set a $400.00 target price on Tesla in a research note on Tuesday, May 6th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. UBS Group reduced their price objective on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $293.97.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 984,783 shares of company stock valued at $320,019,942. Company insiders own 20.70% 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.