Arete Wealth Advisors LLC Has $6.77 Million Position in Tesla, Inc. $TSLA

Key Points

• Arete Wealth Advisors LLC increased its stake in Tesla by 27.5% during the 1st quarter, acquiring an additional 5,632 shares for a total of 26,100 shares valued at approximately $6.77 million.
• Multiple large investors also boosted their holdings in Tesla, with some experiencing significant percentage increases, such as Centennial Bank AR, which raised its position by 833.3%.
• Analysts' ratings on Tesla stock are mixed, with a current consensus rating of "Hold" and an average price target of $303.31, despite one analyst giving a Strong Buy rating.

Arete Wealth Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,100 shares of the electric vehicle producer's stock after acquiring an additional 5,632 shares during the quarter. Arete Wealth Advisors LLC's holdings in Tesla were worth $6,765,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC grew 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 acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter valued at $27,000. Finally, Centennial Bank AR raised its position in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 0.2%

NASDAQ:TSLA traded up $0.82 during mid-day trading on Wednesday, hitting $347.79. The company had a trading volume of 71,891,567 shares, compared to its average volume of 70,052,712. 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, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a market cap of $1.12 trillion, a P/E ratio of 204.10, a P/E/G ratio of 12.10 and a beta of 2.06. The business's fifty day moving average is $325.50 and its two-hundred day moving average is $302.26.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the business earned $0.52 EPS. The firm's revenue was down 11.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was 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 owned 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. Over the last ninety days, insiders have sold 143,606 shares of company stock worth $49,581,812. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Finally, China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $303.00.

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.