ARQ Wealth Advisors LLC Buys Shares of 2,102 Tesla, Inc. (NASDAQ:TSLA)

ARQ Wealth Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,102 shares of the electric vehicle producer's stock, valued at approximately $849,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Hengehold Capital Management LLC grew its holdings in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after acquiring an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its position in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after purchasing an additional 24 shares during the last quarter. Vista Finance LLC grew its stake in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. Prospect Financial Services LLC increased its holdings in Tesla by 0.3% in the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock valued at $3,029,000 after buying an additional 26 shares during the last quarter. Finally, Jmac Enterprises LLC raised its stake in Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock valued at $1,569,000 after buying an additional 26 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Tuesday, April 22nd. Canaccord Genuity Group reduced their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird decreased their price objective on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Finally, Royal Bank of Canada reduced their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $293.97.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $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 accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,623 shares of company stock valued at $116,650,831. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $339.34 on Friday. The firm has a market capitalization of $1.09 trillion, a PE ratio of 166.34, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $277.33 and a 200 day moving average price of $332.69. 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 posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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