Arista Wealth Management LLC Purchases 475 Shares of Tesla, Inc. $TSLA

Arista Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 21.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,646 shares of the electric vehicle producer’s stock after purchasing an additional 475 shares during the quarter. Arista Wealth Management LLC’s holdings in Tesla were worth $841,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the first quarter valued at about $27,000. Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Finally, Evergreen Private Wealth LLC raised its holdings in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $439.31 on Friday. The stock has a market cap of $1.46 trillion, a P/E ratio of 253.94, a price-to-earnings-growth ratio of 15.41 and a beta of 2.08. The firm’s fifty day simple moving average is $387.54 and its 200 day simple moving average is $333.25. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. Cantor Fitzgerald restated an “overweight” rating and set a $355.00 price objective on shares of Tesla in a report on Friday, October 3rd. Benchmark reiterated a “buy” rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Monday. BNP Paribas Exane assumed coverage on shares of Tesla in a research note on Thursday. They issued an “underperform” rating and a $307.00 target price on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $363.54.

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.