Arkfeld Wealth Strategies L.L.C. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Arkfeld Wealth Strategies L.L.C. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,674 shares of the electric vehicle producer’s stock after purchasing an additional 267 shares during the quarter. Arkfeld Wealth Strategies L.L.C.’s holdings in Tesla were worth $669,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter worth $25,000. Clean Yield Group grew its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. grew its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA traded up $0.53 during trading hours on Tuesday, reaching $219.69. 39,925,996 shares of the company traded hands, compared to its average volume of 94,919,422. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $225.84 and a 200-day moving average price of $204.27. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market capitalization of $700.63 billion, a P/E ratio of 55.69, a P/E/G ratio of 6.48 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSLA. KGI Securities restated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Canaccord Genuity Group restated a “buy” rating and set a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research report on Friday. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and raised their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Finally, HSBC reaffirmed a “reduce” rating and set a $124.00 price objective on shares of Tesla in a report on Friday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $210.72.

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.