OMC Financial Services LTD Trims Stock Holdings in Tesla, Inc. $TSLA

Key Points

• OMC Financial Services LTD has reduced its holdings in Tesla, Inc. by 27.3% during the second quarter, resulting in ownership of 3,533 shares valued at approximately $1.12 million.
• Tesla's recent quarterly earnings missed analysts' expectations, reporting $0.40 earnings per share against a forecast of $0.43, with revenue down 11.8% from the previous year.
• Analysts have varied perspectives on Tesla's stock, with target prices ranging from $175 to $490, and a consensus rating of "Hold" with an average target price of $363.54.

OMC Financial Services LTD decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,533 shares of the electric vehicle producer's stock after selling 1,328 shares during the period. OMC Financial Services LTD's holdings in Tesla were worth $1,122,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new position in shares of Tesla in the second quarter worth about $29,000. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the first quarter valued at approximately $27,000. Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the period. Evergreen Private Wealth LLC boosted its position in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock valued at $35,000 after acquiring an additional 81 shares during the period. Finally, Centennial Bank AR boosted its position in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Down 1.1%

Shares of TSLA opened at $442.60 on Wednesday. The firm has a market cap of $1.47 trillion, a price-to-earnings ratio of 255.84, a PEG ratio of 16.08 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a 50 day moving average price of $391.74 and a 200-day moving average price of $336.26.

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

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $355.00 target price on shares of Tesla in a research report on Tuesday. Mizuho lifted their target price on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday, September 23rd. UBS Group set a $247.00 target price on shares of Tesla in a research report on Monday, October 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $363.54.

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.

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