ARS Wealth Advisors Group LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

ARS Wealth Advisors Group LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,709 shares of the electric vehicle producer's stock after buying an additional 956 shares during the quarter. ARS Wealth Advisors Group LLC's holdings in Tesla were worth $961,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the 4th quarter valued at $56,600,000. Stephens Consulting LLC grew its holdings in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after purchasing an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its holdings in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. purchased a new position in shares of Tesla during the 4th quarter worth $8,158,000. Finally, Vontobel Holding Ltd. grew its holdings in shares of Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after purchasing an additional 60,342 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Canaccord Genuity Group lowered their price target on Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Guggenheim reiterated a "sell" rating and set a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Finally, Glj Research reiterated a "sell" rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $294.27.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares in the company, valued at $682,500. The trade was a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia bought 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the purchase, the director now owns 4,111 shares of the company's stock, valued at $1,053,690.41. The trade was a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 870,721 shares of company stock worth $286,248,728 over the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

TSLA stock opened at $295.14 on Friday. 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 firm has a market capitalization of $950.63 billion, a P/E ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. The business's 50-day moving average is $292.17 and its two-hundred day moving average is $333.56. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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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