Arrow Financial Corp Has $2.28 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Arrow Financial Corp lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,701 shares of the electric vehicle producer’s stock after selling 55 shares during the quarter. Arrow Financial Corp’s holdings in Tesla were worth $2,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after buying an additional 331 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in Tesla by 7.9% in the first quarter. Meeder Advisory Services Inc. now owns 29,391 shares of the electric vehicle producer’s stock valued at $5,167,000 after acquiring an additional 2,159 shares during the last quarter. Verus Capital Partners LLC grew its position in shares of Tesla by 7.6% in the 1st quarter. Verus Capital Partners LLC now owns 12,480 shares of the electric vehicle producer’s stock valued at $2,194,000 after acquiring an additional 879 shares during the period. Semus Wealth Partners LLC increased its stake in shares of Tesla by 7.4% during the 1st quarter. Semus Wealth Partners LLC now owns 16,325 shares of the electric vehicle producer’s stock worth $2,870,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Watershed Private Wealth LLC raised its holdings in shares of Tesla by 79.3% in the 1st quarter. Watershed Private Wealth LLC now owns 8,343 shares of the electric vehicle producer’s stock valued at $1,467,000 after purchasing an additional 3,689 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 8.2 %

Shares of TSLA stock opened at $321.22 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $328.71. The company has a market cap of $1.03 trillion, a PE ratio of 88.01, a P/E/G ratio of 10.59 and a beta of 2.29. The stock’s fifty day moving average price is $241.18 and its two-hundred day moving average price is $214.90.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 in the last three months. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TSLA shares. Wells Fargo & Company lifted their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their target price on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Phillip Securities upgraded Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Bank of America lifted their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $222.03.

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.