Metis Global Partners LLC Purchases 20,618 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Metis Global Partners LLC increased its Tesla holdings by 11.1%, acquiring an additional 20,618 shares, bringing its total shares to 206,504, valued at approximately $53.5 million.
• Analysts have mixed views on Tesla, with ten analysts rating it as a sell, fourteen as a hold, and seventeen as a buy, while the average price target is set at $302.75.
• Despite missing earnings expectations with a reported $0.40 EPS, Tesla's market capitalization stands at $1.02 trillion with a significant amount of institutional ownership at 66.20%.

Metis Global Partners LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,504 shares of the electric vehicle producer's stock after acquiring an additional 20,618 shares during the period. Tesla accounts for approximately 1.5% of Metis Global Partners LLC's investment portfolio, making the stock its 9th biggest holding. Metis Global Partners LLC's holdings in Tesla were worth $53,518,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TSLA. First National Advisers LLC grew its position in shares of Tesla by 64.4% during the 1st quarter. First National Advisers LLC now owns 11,731 shares of the electric vehicle producer's stock worth $3,040,000 after buying an additional 4,594 shares during the period. Ridgewood Investments LLC boosted its stake in Tesla by 3.5% during the first quarter. Ridgewood Investments LLC now owns 1,819 shares of the electric vehicle producer's stock worth $471,000 after acquiring an additional 62 shares in the last quarter. Second Half Financial Partners LLC acquired a new stake in Tesla in the first quarter worth $300,000. Alteri Wealth LLC increased its stake in Tesla by 0.6% in the first quarter. Alteri Wealth LLC now owns 7,498 shares of the electric vehicle producer's stock valued at $1,943,000 after purchasing an additional 42 shares in the last quarter. Finally, MRP Capital Investments LLC raised its holdings in shares of Tesla by 1.8% during the first quarter. MRP Capital Investments LLC now owns 2,848 shares of the electric vehicle producer's stock valued at $738,000 after purchasing an additional 50 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TSLA shares. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada lowered their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $302.75.

Tesla Price Performance

Tesla stock opened at $316.06 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.54. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The firm has a market capitalization of $1.02 trillion, a P/E ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39. The business has a fifty day moving average price of $324.70 and a 200-day moving average price of $314.09.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Company 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.

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