Metropolitan Life Insurance Co. NY cut its stake in Tesla Inc. (NASDAQ:TSLA) by 26.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,263 shares of the electric vehicle producer’s stock after selling 3,033 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Tesla were worth $2,300,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of TSLA. Clarius Group LLC raised its stake in Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock valued at $1,287,000 after buying an additional 16 shares during the last quarter. Eqis Capital Management Inc. raised its stake in Tesla by 1.2% in the first quarter. Eqis Capital Management Inc. now owns 2,515 shares of the electric vehicle producer’s stock valued at $700,000 after buying an additional 29 shares during the last quarter. Focused Wealth Management Inc raised its stake in Tesla by 1.0% in the first quarter. Focused Wealth Management Inc now owns 3,232 shares of the electric vehicle producer’s stock valued at $899,000 after buying an additional 31 shares during the last quarter. WMS Partners LLC raised its stake in Tesla by 3.1% in the first quarter. WMS Partners LLC now owns 1,330 shares of the electric vehicle producer’s stock valued at $370,000 after buying an additional 40 shares during the last quarter. Finally, First Manhattan Co. raised its stake in shares of Tesla by 6.0% in the first quarter. First Manhattan Co. now owns 890 shares of the electric vehicle producer’s stock worth $181,000 after buying an additional 50 shares during the last quarter. Institutional investors own 63.78% of the company’s stock.
Shares of Tesla Inc. (TSLA) traded up 2.83% during trading on Friday, hitting $356.91. 9,268,909 shares of the stock were exchanged. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $386.99. The stock’s market cap is $58.97 billion. The stock’s 50 day moving average is $346.20 and its 200-day moving average is $302.00. Tesla also was the target of unusually large options trading activity on Thursday. Traders acquired 92,133 put options on the stock. This is an increase of approximately 119% compared to the typical daily volume of 42,045 put options.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative net margin of 7.61% and a negative return on equity of 17.71%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned ($1.06) EPS. The company’s revenue was up 119.6% on a year-over-year basis. Equities research analysts anticipate that Tesla Inc. will post ($6.15) EPS for the current year.
A number of analysts have issued reports on TSLA shares. Zacks Investment Research raised Tesla from a “hold” rating to a “buy” rating and set a $345.00 target price on the stock in a research report on Tuesday, April 25th. Vetr lowered Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 target price on the stock. in a research report on Thursday. Deutsche Bank AG reaffirmed a “hold” rating and set a $240.00 price objective on shares of Tesla in a research report on Thursday, May 4th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $180.00 price objective (down previously from $190.00) on shares of Tesla in a research report on Wednesday, July 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Tesla from $314.00 to $345.00 and gave the stock a “sector perform” rating in a research note on Thursday. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $304.84.
In other news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $321.36, for a total value of $703,778.40. Following the transaction, the director now owns 160,274 shares of the company’s stock, valued at approximately $51,505,652.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $6,235,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,980 shares of company stock worth $74,834,109. Insiders own 23.10% of the company’s stock.
About Tesla
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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