Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,052 shares of the electric vehicle producer's stock after selling 587 shares during the period. Arbor Trust Wealth Advisors LLC's holdings in Tesla were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Abich Financial Wealth Management LLC increased its holdings 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 purchasing an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group lifted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 0.6 %

Shares of NASDAQ TSLA traded down $2.43 during mid-day trading on Tuesday, reaching $424.07. 86,903,227 shares of the company's stock were exchanged, compared to its average volume of 82,108,117. The firm has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 116.18, a PEG ratio of 8.60 and a beta of 2.30. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company's 50-day moving average is $391.47 and its 200-day moving average is $290.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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 net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. During the same period last year, the business earned $0.53 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Roth Capital raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Bank of America downgraded Tesla from a "buy" rating to a "neutral" rating and boosted their price target for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Robert W. Baird raised their price objective on shares of Tesla from $280.00 to $480.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 18th. Finally, Mizuho upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $304.94.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company's stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock worth $213,451,751 over the last ninety days. Company insiders own 20.70% of the company's stock.

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.