Optima Capital LLC Increases Position in Tesla, Inc. $TSLA

Optima Capital LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 23.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,221 shares of the electric vehicle producer’s stock after acquiring an additional 231 shares during the period. Optima Capital LLC’s holdings in Tesla were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Kanen Wealth Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $243,000. Wealth Advisory Solutions LLC purchased a new stake in Tesla in the second quarter valued at $253,000. Seek First Inc. grew its position in Tesla by 3.7% during the 2nd quarter. Seek First Inc. now owns 13,289 shares of the electric vehicle producer’s stock worth $4,221,000 after purchasing an additional 475 shares during the period. Hoey Investments Inc. raised its stake in shares of Tesla by 25.6% during the 2nd quarter. Hoey Investments Inc. now owns 2,702 shares of the electric vehicle producer’s stock valued at $858,000 after buying an additional 551 shares during the last quarter. Finally, Occidental Asset Management LLC raised its stake in shares of Tesla by 1.7% during the 2nd quarter. Occidental Asset Management LLC now owns 6,632 shares of the electric vehicle producer’s stock valued at $2,107,000 after buying an additional 114 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

Tesla Stock Up 1.9%

TSLA stock opened at $434.21 on Tuesday. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a 50-day moving average of $343.03 and a two-hundred day moving average of $309.87.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSLA. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, September 5th. The Goldman Sachs Group lifted their price objective on Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a research note on Thursday, September 18th. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Finally, Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $324.53.

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.