Arete Wealth Advisors LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Arete Wealth Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 30.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,468 shares of the electric vehicle producer’s stock after acquiring an additional 4,763 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Tesla were worth $8,312,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Horrell Capital Management Inc. lifted its stake in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. grew its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC lifted its position in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in shares of Tesla in the fourth quarter worth about $44,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSLA shares. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Wedbush reissued an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research note on Thursday, March 27th. Benchmark started coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Bank of America dropped their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Glj Research restated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $317.75.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $282.76 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s fifty day moving average price is $312.22 and its 200 day moving average price is $323.20. The company has a market capitalization of $909.50 billion, a PE ratio of 138.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. On average, research analysts predict that Tesla, Inc. will post 2.56 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.