ARS Investment Partners LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

ARS Investment Partners LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 118.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,394 shares of the electric vehicle producer’s stock after acquiring an additional 2,380 shares during the period. ARS Investment Partners LLC’s holdings in Tesla were worth $1,774,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Tesla by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 4,754,950 shares of the electric vehicle producer’s stock worth $941,050,000 after buying an additional 459,704 shares during the period. Drucker Wealth 3.0 LLC purchased a new position in shares of Tesla during the second quarter worth $445,000. DoubleLine ETF Adviser LP purchased a new position in shares of Tesla during the second quarter worth $14,152,000. Finally, Daymark Wealth Partners LLC boosted its position in shares of Tesla by 252.1% during the second quarter. Daymark Wealth Partners LLC now owns 33,432 shares of the electric vehicle producer’s stock worth $6,616,000 after buying an additional 23,938 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $412.38 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock’s 50 day moving average is $395.08 and its two-hundred day moving average is $292.13. The firm has a market capitalization of $1.32 trillion, a PE ratio of 112.98, a P/E/G ratio of 8.55 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. UBS Group increased their price objective on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Barclays increased their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Finally, Morgan Stanley increased their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $309.48.

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.