Arbor Trust Wealth Advisors LLC Has $252,000 Holdings in Tesla, Inc. $TSLA

Arbor Trust Wealth Advisors LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 792 shares of the electric vehicle producer’s stock after selling 212 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Tesla were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC bought a new stake in shares of Tesla during the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares during the last quarter. Amundi raised its holdings in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. lifted its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Bank of America increased their price objective on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, HSBC raised their price target on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $391.08.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $429.52 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company’s 50 day simple moving average is $420.97 and its 200 day simple moving average is $355.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the business posted $0.72 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS 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.