Optas LLC Buys 169 Shares of Tesla, Inc. (NASDAQ:TSLA)

Optas LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,984 shares of the electric vehicle producer’s stock after purchasing an additional 169 shares during the quarter. Optas LLC’s holdings in Tesla were worth $1,032,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla in the 4th quarter valued at about $56,600,000. Focus Financial Network Inc. lifted its position in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its stake in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares during the period. Harvard Management Co. Inc. bought a new stake in Tesla in the 4th quarter valued at $8,158,000. Finally, Vontobel Holding Ltd. raised its stake in Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after acquiring an additional 60,342 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock worth $273,791,775 over the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $325.31 on Friday. The company has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The company has a fifty day moving average price of $299.39 and a 200-day moving average price of $332.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $177.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced 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 company had revenue of $19.34 billion for the quarter, compared to analyst estimates 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 posted $0.45 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Raymond James lowered shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Glj Research reaffirmed a “sell” rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Cfra Research downgraded Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $293.67.

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.