Tesla, Inc. $TSLA Stake Lessened by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Tesla, Inc. by 2.9%, now owning 136,145 shares valued at approximately $35.3 million.
• Other institutional investors, including Means Investment CO. and IFM Investors, have recently increased their stakes, with IFM acquiring an additional 46,087 shares.
• Despite a missed earnings estimate for the last quarter, with Tesla reporting $0.40 EPS versus a consensus of $0.43, several analysts maintain a mixed outlook with ratings varying from Strong Buy to Sell.

OMERS ADMINISTRATION Corp cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,145 shares of the electric vehicle producer's stock after selling 4,092 shares during the period. OMERS ADMINISTRATION Corp's holdings in Tesla were worth $35,283,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. increased its holdings in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. Zuckerman Investment Group LLC raised its stake in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new position in Tesla during the 1st quarter worth approximately $594,000. Finally, IFM Investors Pty Ltd grew its position in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. China Renaissance reissued a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Benchmark reissued a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Trading Down 0.6%

Shares of NASDAQ:TSLA opened at $349.60 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company's 50-day moving average price is $322.87 and its 200 day moving average price is $303.14. The company has a market cap of $1.13 trillion, a PE ratio of 202.08, a P/E/G ratio of 12.23 and a beta of 2.33. Tesla, Inc. has a fifty-two week low of $202.59 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). The firm 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%.Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of 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 this link. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,564 shares of company stock worth $9,757,390. 20.70% of the stock is owned by insiders.

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. 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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