OMC Financial Services LTD Decreases Stock Holdings in Tesla, Inc. $TSLA

OMC Financial Services LTD trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 27.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,533 shares of the electric vehicle producer’s stock after selling 1,328 shares during the quarter. OMC Financial Services LTD’s holdings in Tesla were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. increased its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC purchased a new position in Tesla during the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi increased its position in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, 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 this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TSLA shares. Royal Bank Of Canada boosted their target price on shares of Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, October 10th. TD Cowen boosted their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. The Goldman Sachs Group boosted their target price on shares of Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $363.54.

Tesla Price Performance

TSLA opened at $442.60 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 255.84, a P/E/G ratio of 16.08 and a beta of 2.08. The company’s 50-day simple moving average is $391.74 and its two-hundred day simple moving average is $336.26. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company 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 was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, analysts predict 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.