ARS Investment Partners LLC Boosts Holdings in Tesla, Inc. $TSLA

ARS Investment Partners LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 67.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,377 shares of the electric vehicle producer’s stock after purchasing an additional 2,983 shares during the quarter. ARS Investment Partners LLC’s holdings in Tesla were worth $2,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. LGT Financial Advisors LLC purchased a new stake in shares of Tesla during the second quarter worth about $29,000. Chelsea Counsel Co. grew its stake in Tesla by 59.7% during the 1st 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 in the last quarter. Evergreen Private Wealth LLC grew its stake in Tesla by 270.0% during the 2nd 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 in the last quarter. Glynn Capital Management LLC purchased a new stake in Tesla during the 2nd quarter worth approximately $35,000. Finally, LSV Asset Management raised its position in shares of Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.9%

TSLA opened at $401.25 on Wednesday. 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 company has a market capitalization of $1.33 trillion, a PE ratio of 267.50, a P/E/G ratio of 16.84 and a beta of 2.06. The stock’s fifty day moving average is $432.00 and its 200-day moving average is $363.04. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $24.98 billion. During the same period in the previous year, the company earned $0.72 earnings per share. Tesla’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on 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. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. New Street Research raised their price target on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Mizuho upped their target price on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Finally, Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $394.31.

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.