Optima Capital LLC Acquires 146 Shares of Tesla, Inc. $TSLA

Optima Capital LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 990 shares of the electric vehicle producer’s stock after purchasing an additional 146 shares during the quarter. Optima Capital LLC’s holdings in Tesla were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Acorn Wealth Advisors LLC boosted its position in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares during the period. Solutions 4 Wealth Ltd increased its position in shares of Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after buying an additional 36 shares during the period. Capital Management Associates Inc increased its position in shares of Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after buying an additional 38 shares during the period. Graney & King LLC increased its position in shares of Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock valued at $63,000 after buying an additional 38 shares during the period. Finally, Mraz Amerine & Associates Inc. increased its position in shares of Tesla by 3.8% during the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock valued at $278,000 after buying an additional 39 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,606 shares of company stock worth $44,724,662 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $368.81 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.19 trillion, a PE ratio of 213.18, a price-to-earnings-growth ratio of 12.13 and a beta of 2.06. The business’s 50-day moving average price is $327.25 and its 200-day moving average price is $302.84. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Canaccord Genuity Group upped their price target on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Wedbush reiterated an “outperform” rating and set a $500.00 price target on shares of Tesla in a research report on Monday, August 4th. Finally, Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $303.00.

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.