Tesla, Inc. (NASDAQ:TSLA) Position Lessened by Metropolitan Life Insurance Co NY

Metropolitan Life Insurance Co NY decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 117,407 shares of the electric vehicle producer’s stock after selling 2,888 shares during the period. Tesla accounts for approximately 1.5% of Metropolitan Life Insurance Co NY’s portfolio, making the stock its 10th largest holding. Metropolitan Life Insurance Co NY’s holdings in Tesla were worth $30,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MidWestOne Financial Group Inc. raised its stake in Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares during the period. Astoria Portfolio Advisors LLC. increased its position in shares of Tesla by 2.8% in the second quarter. Astoria Portfolio Advisors LLC. now owns 1,387 shares of the electric vehicle producer’s stock worth $385,000 after acquiring an additional 38 shares in the last quarter. AFG Fiduciary Services Limited Partnership increased its position in shares of Tesla by 1.3% in the second quarter. AFG Fiduciary Services Limited Partnership now owns 3,092 shares of the electric vehicle producer’s stock worth $870,000 after acquiring an additional 40 shares in the last quarter. Everett Harris & Co. CA increased its position in shares of Tesla by 1.4% in the second quarter. Everett Harris & Co. CA now owns 2,967 shares of the electric vehicle producer’s stock worth $777,000 after acquiring an additional 40 shares in the last quarter. Finally, Meritage Portfolio Management increased its position in shares of Tesla by 2.8% in the second quarter. Meritage Portfolio Management now owns 1,478 shares of the electric vehicle producer’s stock worth $387,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Stock Up 0.5 %

Tesla stock opened at $235.50 on Monday. The stock has a market cap of $748.64 billion, a price-to-earnings ratio of 75.34, a PEG ratio of 4.38 and a beta of 2.28. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $240.04 and its two-hundred day moving average price is $238.24. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.07). The business had revenue of $23.35 billion during the quarter, compared to analyst estimates of $24.19 billion. Tesla had a return on equity of 21.47% and a net margin of 11.21%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. On average, analysts expect that Tesla, Inc. will post 2.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TSLA shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $305.00 price target on shares of Tesla in a report on Tuesday, September 26th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Thursday, October 19th. Barclays reaffirmed an “equal weight” rating and set a $260.00 price target on shares of Tesla in a report on Friday, September 22nd. Jefferies Financial Group lowered their price target on shares of Tesla from $265.00 to $250.00 in a report on Monday, October 9th. Finally, Wedbush reiterated an “outperform” rating and set a $350.00 price objective on shares of Tesla in a research note on Monday, October 16th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $235.20.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 2,500 shares of Tesla stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $257.23, for a total value of $643,075.00. Following the transaction, the senior vice president now directly owns 57,972 shares of the company’s stock, valued at $14,912,137.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Xiaotong Zhu sold 2,500 shares of Tesla stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $257.23, for a total value of $643,075.00. Following the transaction, the senior vice president now directly owns 57,972 shares of the company’s stock, valued at $14,912,137.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the sale, the chief financial officer now owns 104,504 shares of the company’s stock, valued at $26,128,090.08. The disclosure for this sale can be found here. Insiders have sold a total of 43,065 shares of company stock valued at $10,248,880 over the last ninety days. Corporate insiders own 25.10% of the company’s stock.

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. It 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, retail merchandise, and vehicle insurance services.