Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Arkfeld Wealth Strategies L.L.C.

Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,447 shares of the electric vehicle producer’s stock after purchasing an additional 566 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in Tesla were worth $938,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. grew its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC acquired a new position in Tesla during the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla during the 4th quarter worth $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 3.7%

TSLA stock opened at $295.14 on Friday. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The firm’s 50-day moving average is $292.17 and its two-hundred day moving average is $333.62. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group decreased their price target on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating for the company in a report on Friday. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. Finally, Argus set a $410.00 price target on shares of Tesla in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $294.27.

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.