Advisor Resource Council Takes $2.95 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Advisor Resource Council purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,376 shares of the electric vehicle producer's stock, valued at approximately $2,948,000.

Other hedge funds have also made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares in the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. True Wealth Design LLC increased its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the 4th 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. Finally, Pflug Koory LLC increased its position in Tesla by 370.4% during the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 in the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 0.0%

Shares of TSLA traded up $0.11 during trading on Friday, reaching $322.16. The company's stock had a trading volume of 108,229,033 shares, compared to its average volume of 100,998,233. The company has a fifty day moving average of $306.22 and a two-hundred day moving average of $332.14. Tesla, Inc. has a twelve month low of $180.69 and a twelve month high of $488.54. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a P/E/G ratio of 12.04 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business 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, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Robert W. Baird reiterated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Benchmark reiterated a "buy" rating and set a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, UBS Group lowered their price target on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $293.67.

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.