Armis Advisers LLC Acquires Shares of 2,770 Tesla, Inc. (NASDAQ:TSLA)

Armis Advisers LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,770 shares of the electric vehicle producer's stock, valued at approximately $1,118,000.

Several other institutional investors have also recently bought and sold shares of TSLA. Chokshi & Queen Wealth Advisors Inc purchased a new stake in shares of Tesla during the 4th quarter valued at $1,746,000. Garde Capital Inc. increased its position in Tesla by 28.6% in the fourth quarter. Garde Capital Inc. now owns 10,926 shares of the electric vehicle producer's stock worth $4,412,000 after buying an additional 2,431 shares during the last quarter. Instrumental Wealth LLC increased its position in Tesla by 9.4% in the fourth quarter. Instrumental Wealth LLC now owns 1,056 shares of the electric vehicle producer's stock worth $426,000 after buying an additional 91 shares during the last quarter. Hall Capital Management Co. Inc. purchased a new stake in Tesla in the 4th quarter worth about $764,000. Finally, Liberty Square Wealth Partners LLC purchased a new position in shares of Tesla in the fourth quarter worth about $864,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $1.55 during midday trading on Thursday, reaching $358.45. 59,161,687 shares of the company traded hands, compared to its average volume of 107,053,695. The stock has a 50-day moving average price of $284.09 and a 200 day moving average price of $333.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 175.60, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

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 the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the firm earned $0.45 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $350.11, for a total value of $1,050,330.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $9,435,464.50. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 415,623 shares of company stock worth $116,650,831. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLA. Royal Bank of Canada cut their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird lowered their target price on Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Barclays lowered their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Bank of America decreased their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $293.97.

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.