Omega Financial Group LLC Sells 425 Shares of Tesla, Inc. $TSLA

Omega Financial Group LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 27.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,100 shares of the electric vehicle producer’s stock after selling 425 shares during the quarter. Omega Financial Group LLC’s holdings in Tesla were worth $36,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the 2nd quarter valued at about $29,000. Evergreen Private Wealth LLC lifted its position in Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the last quarter. Glynn Capital Management LLC purchased a new stake in Tesla in the second quarter worth approximately $35,000. Finally, Pacific Center for Financial Services grew its position in Tesla by 44.7% during the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after acquiring an additional 46 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’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 completion of the sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Down 6.6%

Shares of NASDAQ:TSLA opened at $401.99 on Friday. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 267.99, a P/E/G ratio of 16.84 and a beta of 2.06. The stock has a 50 day moving average price of $428.60 and a 200-day moving average price of $359.48. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Melius Research set a $520.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Monday, October 13th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research note on Wednesday, November 5th. UBS Group reissued a “sell” rating on shares of Tesla in a research note on Friday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $393.61.

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.