Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Optas LLC

Optas LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,788 shares of the electric vehicle producer’s stock after selling 840 shares during the period. Optas LLC’s holdings in Tesla were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Holderness Investments Co. grew its stake in Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares in the last quarter. Daymark Wealth Partners LLC grew its position in shares of Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares in the last quarter. Cravens & Co Advisors LLC increased its stake in shares of Tesla by 1.2% during the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after buying an additional 48 shares during the period. Patten & Patten Inc. TN raised its holdings in Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after acquiring an additional 48 shares in the last quarter. Finally, Caerus Investment Advisors LLC lifted its stake in Tesla by 0.3% in the fourth quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after acquiring an additional 49 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,855 shares of company stock valued at $19,285,643. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $0.46 during midday trading on Friday, hitting $197.88. The company had a trading volume of 95,438,068 shares, compared to its average volume of 68,945,696. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $177.80 and a two-hundred day simple moving average of $191.38. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The firm has a market capitalization of $631.08 billion, a price-to-earnings ratio of 50.48, a price-to-earnings-growth ratio of 4.91 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Equities research analysts anticipate that Tesla, Inc. will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $175.00 price objective on shares of Tesla in a research report on Friday, June 14th. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a report on Thursday, June 20th. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Wednesday, April 24th. Evercore ISI cut their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $187.30.

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.