2,517 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Optimize Financial Inc

Optimize Financial Inc bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,517 shares of the electric vehicle producer’s stock, valued at approximately $1,016,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank bought a new position in shares of Tesla in the 4th quarter worth $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tesla by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after purchasing an additional 780,026 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 0.2 %

Shares of NASDAQ:TSLA opened at $251.96 on Friday. The company has a 50-day simple moving average of $285.19 and a 200 day simple moving average of $323.09. The company has a market capitalization of $810.42 billion, a P/E ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. 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 $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Truist Financial decreased their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Royal Bank of Canada cut their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Robert W. Baird reduced their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $298.59.

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.