Orion Capital Management LLC Invests $1.20 Million in Tesla, Inc. (NASDAQ:TSLA)

Orion Capital Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,963 shares of the electric vehicle producer’s stock, valued at approximately $1,197,000.

Other institutional investors have also made changes to their positions in the company. Hengehold Capital Management LLC raised its position in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the last quarter. Strategic Investment Advisors MI increased its position in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Vista Finance LLC raised its holdings in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. Prospect Financial Services LLC lifted its position in Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after purchasing an additional 26 shares during the period. Finally, Jmac Enterprises LLC grew its position in shares of Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after buying an additional 26 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TSLA shares. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Benchmark restated a “buy” rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $289.43.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $9,435,464.50. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,623 shares of company stock worth $116,650,831. 20.70% of the stock is owned by insiders.

Tesla Stock Up 0.5%

Shares of TSLA stock opened at $343.82 on Wednesday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm has a market capitalization of $1.11 trillion, a P/E ratio of 168.54, a PEG ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $271.29 and its two-hundred day moving average price is $331.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the firm earned $0.45 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.