Ariston Services Group Purchases New Position in Tesla, Inc. $TSLA

Ariston Services Group purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the first quarter, Holdings Channel reports. The institutional investor purchased 1,250 shares of the electric vehicle producer’s stock, valued at approximately $324,000.

A number of other hedge funds have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC increased its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC increased its stake 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 purchasing an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock valued at $213,126,501 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Monday, August 4th. Canaccord Genuity Group increased their target price on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Finally, Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $303.31.

Tesla Price Performance

Shares of TSLA opened at $340.01 on Friday. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.13 and a beta of 2.33. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company’s fifty day simple moving average is $321.27 and its 200 day simple moving average is $303.60. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.