Arvest Bank Trust Division Acquires 253 Shares of Tesla, Inc. (NASDAQ:TSLA)

Arvest Bank Trust Division raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,315 shares of the electric vehicle producer’s stock after purchasing an additional 253 shares during the quarter. Arvest Bank Trust Division’s holdings in Tesla were worth $935,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Horrell Capital Management Inc. lifted its stake in Tesla by 75.6% in the 4th 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 in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Tesla during the 4th quarter valued at approximately $38,000. Delos Wealth Advisors LLC grew its stake in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in Tesla during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark reduced their target price on shares of Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley decreased their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Royal Bank of Canada decreased their price target on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Finally, Barclays upped their price objective on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $292.18.

Insiders Place Their Bets

In related news, 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $241.55 on Thursday. The stock has a market capitalization of $776.95 billion, a PE ratio of 118.41, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $277.86 and its 200-day moving average price is $322.47.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.