Arlington Financial Advisors LLC Sells 13,980 Shares of Tesla, Inc. $TSLA

Key Points

• Arlington Financial Advisors LLC significantly reduced its stake in Tesla, Inc. by 91.5%, selling 13,980 shares and ending with a total of 1,306 shares valued at approximately $415,000.
• Wall Street analysts have raised their price targets for Tesla, with estimates now reaching as high as $500.00, while the stock has a current consensus rating of "Hold" and a target price of $363.03.
• Insider trading activity includes Tesla CFO Vaibhav Taneja selling 2,606 shares at an average price of $352.38 and Director James R. Murdoch selling 60,000 shares at an average price of $422.68.

Arlington Financial Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 91.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,306 shares of the electric vehicle producer's stock after selling 13,980 shares during the quarter. Arlington Financial Advisors LLC's holdings in Tesla were worth $415,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank lifted its holdings in 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 purchasing an additional 42 shares in the last quarter. Newton One Investments LLC lifted its holdings in Tesla by 250.0% in 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. Arcadia Investment Management Corp MI purchased a new position in Tesla in the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSLA shares. UBS Group set a $247.00 price target on Tesla in a report on Monday, October 6th. HSBC raised their target price on shares of Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Royal Bank Of Canada upped their price target on shares of Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Dbs Bank upped their price target on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $363.03.

Tesla Stock Performance

NASDAQ:TSLA opened at $435.15 on Thursday. The stock's fifty day moving average is $383.21 and its 200 day moving average is $330.90. 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 capitalization of $1.45 trillion, a PE ratio of 251.53, a PEG ratio of 15.47 and a beta of 2.08. 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 (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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 net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business's quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company's stock.

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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