Arrow Financial Corp Has $2.28 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Arrow Financial Corp trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,701 shares of the electric vehicle producer’s stock after selling 55 shares during the period. Arrow Financial Corp’s holdings in Tesla were worth $2,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. International Assets Investment Management LLC increased its position in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC lifted its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC boosted its stake in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares in the last quarter. Finally, National Pension Service increased its holdings in Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after buying an additional 688,717 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $321.22 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $328.71. The firm has a fifty day moving average of $241.18 and a 200-day moving average of $214.90. The firm has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 88.01, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on TSLA shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, Piper Sandler lifted their price objective on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $222.03.

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.