Optimize Financial Inc Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Optimize Financial Inc acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,517 shares of the electric vehicle producer's stock, valued at approximately $1,016,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC increased its holdings in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in shares of Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock worth $1,769,899,000 after acquiring an additional 4,374,746 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wedbush reduced their price target on Tesla from $550.00 to $315.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. Stifel Nicolaus dropped their target price on shares of Tesla from $474.00 to $455.00 and set a "buy" rating for the company in a report on Monday, March 31st. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and raised their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Truist Financial cut their target price on Tesla from $373.00 to $280.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $404.00 price objective on shares of Tesla in a report on Monday, March 17th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $297.03.

Tesla Stock Down 4.5 %

Shares of TSLA traded down $11.42 during midday trading on Wednesday, reaching $242.69. 59,006,848 shares of the stock were exchanged, compared to its average volume of 105,659,633. The company has a market capitalization of $780.62 billion, a P/E ratio of 118.97, a PEG ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company's 50 day moving average is $280.27 and its two-hundred day moving average is $323.03.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company's stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock worth $123,791,123 over the last 90 days. Company insiders own 20.70% of the company's stock.

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.