Tesla, Inc. $TSLA Shares Sold by Optimum Investment Advisors

Optimum Investment Advisors lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 26.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 843 shares of the electric vehicle producer’s stock after selling 300 shares during the quarter. Optimum Investment Advisors’ holdings in Tesla were worth $268,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Ingalls & Snyder LLC grew its stake in shares of Tesla by 153.0% in the second quarter. Ingalls & Snyder LLC now owns 4,709 shares of the electric vehicle producer’s stock valued at $1,496,000 after buying an additional 2,848 shares in the last quarter. Darden Wealth Group Inc grew its stake in shares of Tesla by 11.9% in the second quarter. Darden Wealth Group Inc now owns 2,143 shares of the electric vehicle producer’s stock valued at $681,000 after buying an additional 228 shares in the last quarter. Ndwm LLC grew its stake in shares of Tesla by 1.2% in the second quarter. Ndwm LLC now owns 3,503 shares of the electric vehicle producer’s stock valued at $1,113,000 after buying an additional 41 shares in the last quarter. Cabot Wealth Management Inc. grew its stake in shares of Tesla by 0.5% in the second quarter. Cabot Wealth Management Inc. now owns 8,341 shares of the electric vehicle producer’s stock valued at $2,650,000 after buying an additional 39 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Tesla by 1.6% in the second quarter. Brighton Jones LLC now owns 86,397 shares of the electric vehicle producer’s stock valued at $27,445,000 after buying an additional 1,347 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TSLA shares. Glj Research reiterated a “sell” rating on shares of Tesla in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. UBS Group set a $247.00 price objective on Tesla in a research note on Monday, October 6th. Benchmark restated a “buy” rating on shares of Tesla in a research note on Thursday. Finally, Industrial Alliance Securities set a $300.00 price objective on Tesla in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $381.70.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $433.72 on Friday. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 15.59 and a beta of 2.08. The stock has a 50 day moving average of $398.06 and a 200-day moving average of $340.74. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.