Arkfeld Wealth Strategies L.L.C. Increases Stock Position in Tesla, Inc. $TSLA

Arkfeld Wealth Strategies L.L.C. increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,077 shares of the electric vehicle producer's stock after acquiring an additional 630 shares during the quarter. Arkfeld Wealth Strategies L.L.C.'s holdings in Tesla were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC lifted its holdings 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 valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC increased its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the first quarter valued at $27,000. Finally, Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Mizuho cut their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Bank of America upped their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus set a $440.00 target price on Tesla in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $317.70.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 2.2%

Tesla stock opened at $426.07 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.28, a price-to-earnings-growth ratio of 14.54 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock's fifty day moving average is $340.68 and its two-hundred day moving average is $308.15.

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

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