Arvest Bank Trust Division Boosts Stake in Tesla, Inc. $TSLA

Arvest Bank Trust Division increased its position in Tesla, Inc. (NASDAQ:TSLA) by 16.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,856 shares of the electric vehicle producer’s stock after purchasing an additional 411 shares during the quarter. Arvest Bank Trust Division’s holdings in Tesla were worth $907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. First Merchants Corp boosted its position in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares in the last quarter. Alaska Wealth Advisors raised its stake in Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after buying an additional 32 shares during the last quarter. KWB Wealth grew its stake in shares of Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. grew its stake in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after acquiring an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. increased its holdings in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after acquiring an additional 34 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 6.6%

Tesla stock opened at $401.99 on Friday. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The stock has a fifty day moving average of $428.60 and a 200 day moving average of $359.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock has a market cap of $1.34 trillion, a PE ratio of 267.99, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) 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 business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TSLA shares. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Dbs Bank upgraded Tesla to a “hold” rating in a research note on Wednesday, November 5th. Finally, Mizuho boosted their price target on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $393.61.

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.