Orion Capital Management LLC Buys Shares of 2,963 Tesla, Inc. (NASDAQ:TSLA)

Orion Capital Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,963 shares of the electric vehicle producer’s stock, valued at approximately $1,197,000.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Wealth Group Ltd. bought a new position in Tesla during the fourth quarter worth $275,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Tesla in the 4th quarter valued at about $1,361,000. Tallon Kerry Patrick bought a new stake in Tesla in the 4th quarter valued at about $374,000. Wedge Capital Management L L P NC raised its stake in Tesla by 27.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 3,164 shares of the electric vehicle producer’s stock worth $1,278,000 after buying an additional 675 shares during the period. Finally, Jackson Square Capital LLC bought a new position in Tesla in the fourth quarter worth approximately $904,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $9,435,464.50. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock valued at $116,650,831 in the last 90 days. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. Barclays cut their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. UBS Group cut their price objective on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Raymond James lowered Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, Benchmark restated a “buy” rating and issued a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $289.43.

Tesla Trading Up 0.5%

Shares of TSLA stock opened at $343.82 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50-day moving average of $271.29 and a 200 day moving average of $331.39. The stock has a market capitalization of $1.11 trillion, a PE ratio of 168.54, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its 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). The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.