Advisory Resource Group Buys 108 Shares of Tesla, Inc. (NASDAQ:TSLA)

Advisory Resource Group increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,368 shares of the electric vehicle producer’s stock after acquiring an additional 108 shares during the quarter. Advisory Resource Group’s holdings in Tesla were worth $1,764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedge Capital Management L L P NC increased its holdings in Tesla by 18.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock valued at $651,000 after buying an additional 384 shares during the period. Creative Planning increased its holdings in Tesla by 28.3% in the 3rd quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock valued at $221,677,000 after buying an additional 197,839 shares during the period. Swedbank AB increased its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Petredis Investment Advisors LLC increased its holdings in Tesla by 4.0% in the 3rd quarter. Petredis Investment Advisors LLC now owns 36,056 shares of the electric vehicle producer’s stock valued at $9,433,000 after buying an additional 1,380 shares during the period. Finally, First United Bank & Trust increased its holdings in Tesla by 222.3% in the 3rd quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock valued at $465,000 after buying an additional 1,225 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSLA. Piper Sandler boosted their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday. Canaccord Genuity Group upped their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Tesla in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $326.50.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 635,776 shares of company stock worth $231,335,112 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $336.51 on Thursday. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. The firm’s 50 day simple moving average is $407.68 and its 200 day simple moving average is $306.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

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.