Arlington Trust Co LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Arlington Trust Co LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 155.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,765 shares of the electric vehicle producer's stock after acquiring an additional 1,075 shares during the quarter. Arlington Trust Co LLC's holdings in Tesla were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC grew its position in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC lifted its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. JPMorgan Chase & Co. reduced their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Roth Mkm cut their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, Cantor Fitzgerald lowered their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $301.24.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,692,546.04. This trade represents a 30.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 in the last three months. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $2.09 during trading on Thursday, hitting $313.56. The company had a trading volume of 58,042,302 shares, compared to its average volume of 101,397,730. The firm has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a price-to-earnings-growth ratio of 11.41 and a beta of 2.39. The stock has a fifty day simple moving average of $319.28 and a two-hundred day simple moving average of $328.10. 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, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.