Arlington Trust Co LLC Cuts Position in Tesla, Inc. $TSLA

Arlington Trust Co LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 21.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,390 shares of the electric vehicle producer’s stock after selling 375 shares during the quarter. Arlington Trust Co LLC’s holdings in Tesla were worth $442,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Acorn Wealth Advisors LLC lifted its position in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd lifted its position in Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after buying an additional 36 shares in the last quarter. Capital Management Associates Inc boosted its stake in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after buying an additional 38 shares during the period. Graney & King LLC grew its holdings in shares of Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock valued at $63,000 after acquiring an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. increased its stake in shares of Tesla by 3.8% in the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock worth $278,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock worth $51,999,662 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

NASDAQ TSLA opened at $410.04 on Tuesday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a fifty day simple moving average of $331.21 and a 200 day simple moving average of $304.53. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.32 trillion, a P/E ratio of 237.02, a P/E/G ratio of 13.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Wedbush reiterated an “outperform” rating and set a $500.00 price target on shares of Tesla in a report on Monday. Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a research note on Tuesday, July 29th. Robert W. Baird restated a “neutral” rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Finally, Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $303.00.

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.