Ariose Capital Management Ltd Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Ariose Capital Management Ltd purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 68,128 shares of the electric vehicle producer’s stock, valued at approximately $27,513,000. Tesla makes up about 22.8% of Ariose Capital Management Ltd’s portfolio, making the stock its 3rd largest position.

A number of other hedge funds also recently modified their holdings of the company. Cascade Investment Group Inc. bought a new position in Tesla in the fourth quarter worth $869,000. Grove Bank & Trust lifted its holdings in shares of Tesla by 18.0% during the 4th quarter. Grove Bank & Trust now owns 2,959 shares of the electric vehicle producer’s stock worth $1,195,000 after acquiring an additional 451 shares during the period. Brady Martz Wealth Solutions LLC acquired a new stake in shares of Tesla during the 4th quarter valued at about $1,672,000. Renaissance Investment Group LLC bought a new stake in Tesla in the fourth quarter valued at about $218,000. Finally, My Legacy Advisors LLC raised its position in Tesla by 6.0% in the fourth quarter. My Legacy Advisors LLC now owns 3,879 shares of the electric vehicle producer’s stock worth $1,661,000 after purchasing an additional 218 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $424.07 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.36 trillion, a P/E ratio of 116.18, a PEG ratio of 8.60 and a beta of 2.30. The business has a 50-day moving average of $391.47 and a 200-day moving average of $290.05. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 2.01 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Glj Research restated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Finally, UBS Group increased their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $304.94.

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.