Oak Asset Management LLC Acquires 332 Shares of Tesla, Inc. (NASDAQ:TSLA)

Oak Asset Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,932 shares of the electric vehicle producer’s stock after acquiring an additional 332 shares during the period. Oak Asset Management LLC’s holdings in Tesla were worth $501,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vista Finance LLC grew its stake in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the period. Jmac Enterprises LLC boosted its holdings in Tesla by 0.7% in the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after buying an additional 26 shares during the period. TFB Advisors LLC increased its stake in Tesla by 0.5% in the 4th quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock worth $2,105,000 after buying an additional 27 shares in the last quarter. Vista Capital Partners Inc. lifted its position in shares of Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after acquiring an additional 27 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its stake in shares of Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock worth $875,000 after acquiring an additional 27 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 870,721 shares of company stock valued at $286,248,728 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 3.5%

Shares of NASDAQ TSLA opened at $332.05 on Thursday. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The business has a fifty day moving average price of $291.12 and a 200 day moving average price of $334.34. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 162.77, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the company posted $0.45 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler set a $400.00 target price on shares of Tesla in a report on Tuesday, May 6th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.97.

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.