Ariston Services Group Buys 40,475 Shares of Tesla, Inc. $TSLA

Ariston Services Group lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3,238.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,725 shares of the electric vehicle producer’s stock after purchasing an additional 40,475 shares during the period. Tesla comprises about 9.4% of Ariston Services Group’s investment portfolio, making the stock its 3rd biggest holding. Ariston Services Group’s holdings in Tesla were worth $13,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. First Merchants Corp raised its stake in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares during the period. KWB Wealth boosted its stake in Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. grew its holdings in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. raised its position in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares during the period. Finally, Acorn Creek Capital LLC boosted its position in Tesla by 1.6% during the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $439.31 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a market cap of $1.46 trillion, a P/E ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08. The stock has a fifty day moving average price of $387.54 and a two-hundred day moving average price of $333.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on TSLA. TD Cowen increased their target price on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Wednesday. UBS Group set a $247.00 target price on shares of Tesla in a research note on Monday, October 6th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $363.54.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

About Tesla

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.