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

by · The Cerbat Gem

Arlington Trust Co LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 155.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,765 shares of the electric vehicle producer’s stock after buying an additional 1,075 shares during the quarter. Arlington Trust Co LLC’s holdings in Tesla were worth $457,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank grew its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the period. True Wealth Design LLC grew its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares during the period. Finally, Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director directly owned 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by insiders.

Tesla Stock Up 5.0%

Shares of NASDAQ TSLA opened at $315.65 on Thursday. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 173.43, a price-to-earnings-growth ratio of 11.41 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The business has a 50-day moving average of $319.28 and a two-hundred day moving average of $328.10. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on TSLA. HSBC lowered their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday. Royal Bank Of Canada lowered their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $300.64.

Read Our Latest Stock Report on Tesla

Tesla Profile

(Free Report)

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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