Arcadia Wealth Management Inc. Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Arcadia Wealth Management Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel reports. The firm bought 1,692 shares of the electric vehicle producer’s stock, valued at approximately $683,000. Tesla makes up about 0.6% of Arcadia Wealth Management Inc.’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. grew its position in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC grew its position in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new stake in Tesla in the 4th quarter worth $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joseph Gebbia acquired 4,000 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were bought at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the transaction, the director now directly owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock valued at $116,650,831 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Morgan Stanley restated a “buy” rating and issued a $430.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Raymond James downgraded shares of Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $293.97.

Tesla Stock Performance

NASDAQ TSLA opened at $339.34 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $279.40 and its two-hundred day moving average price is $333.38. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 166.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.