Arkansas Financial Group Inc. Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

Arkansas Financial Group Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 578 shares of the electric vehicle producer’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently modified their holdings of TSLA. Acropolis Investment Management LLC boosted its holdings in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD lifted its position in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the period. Albion Financial Group UT boosted its stake in Tesla by 0.5% in the 4th quarter. Albion Financial Group UT now owns 7,099 shares of the electric vehicle producer’s stock valued at $2,867,000 after buying an additional 34 shares in the last quarter. Connable Office Inc. raised its stake in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares in the last quarter. Finally, Community Bank N.A. lifted its holdings in shares of Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 617,886 shares of company stock worth $212,451,751. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TSLA. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and upped their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Barclays boosted their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Robert W. Baird raised their price target on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $313.84.

Tesla Price Performance

TSLA opened at $406.58 on Friday. The company has a fifty day simple moving average of $398.82 and a 200 day simple moving average of $294.03. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.31 trillion, a P/E ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the firm posted $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 2.01 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.