Arrowroot Family Office LLC Sells 101 Shares of Tesla, Inc. (NASDAQ:TSLA)

Arrowroot Family Office LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,262 shares of the electric vehicle producer’s stock after selling 101 shares during the quarter. Arrowroot Family Office LLC’s holdings in Tesla were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth $29,000. Finally, Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 3.7 %

Shares of NASDAQ TSLA opened at $345.16 on Monday. The stock has a market cap of $1.11 trillion, a price-to-earnings ratio of 94.56, a P/E/G ratio of 11.21 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average is $274.55 and its 200-day moving average is $232.59.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the firm earned $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,187 shares of company stock worth $92,956,692. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Guggenheim raised their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Tesla in a research note on Monday, November 18th. Finally, Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $231.06.

About Tesla

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.