Tesla Inc. (TSLA) Stake Lowered by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY reduced its position in Tesla Inc. (NASDAQ:TSLA) by 26.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,263 shares of the electric vehicle producer’s stock after selling 3,033 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Tesla were worth $2,300,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TSLA. Clarius Group LLC increased its stake in shares of Tesla by 0.3% in the first quarter. Clarius Group LLC now owns 4,625 shares of the electric vehicle producer’s stock worth $1,287,000 after buying an additional 16 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Tesla by 1.2% in the first quarter. Eqis Capital Management Inc. now owns 2,515 shares of the electric vehicle producer’s stock worth $700,000 after buying an additional 29 shares during the period. Focused Wealth Management Inc increased its stake in shares of Tesla by 1.0% in the first quarter. Focused Wealth Management Inc now owns 3,232 shares of the electric vehicle producer’s stock worth $899,000 after buying an additional 31 shares during the period. WMS Partners LLC increased its stake in shares of Tesla by 3.1% in the first quarter. WMS Partners LLC now owns 1,330 shares of the electric vehicle producer’s stock worth $370,000 after buying an additional 40 shares during the period. Finally, First Manhattan Co. increased its stake in shares of Tesla by 6.0% in the first quarter. First Manhattan Co. now owns 890 shares of the electric vehicle producer’s stock worth $181,000 after buying an additional 50 shares during the period. Institutional investors own 63.75% of the company’s stock.

Shares of Tesla Inc. (NASDAQ TSLA) opened at 328.24 on Wednesday. The company’s 50 day moving average is $351.35 and its 200 day moving average is $294.92. The company’s market cap is $53.92 billion. Tesla Inc. has a 12 month low of $178.19 and a 12 month high of $386.99.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $1.30. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.56 billion. On average, equities research analysts predict that Tesla Inc. will post ($5.86) EPS for the current fiscal year.

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A number of brokerages recently issued reports on TSLA. UBS AG reiterated a “sell” rating and issued a $160.00 price objective on shares of Tesla in a research report on Wednesday, May 3rd. Pacific Crest downgraded Tesla to a “hold” rating in a research report on Wednesday, April 5th. Argus reiterated a “hold” rating on shares of Tesla in a research report on Thursday, May 11th. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $278.94 price objective on the stock in a research report on Wednesday, May 17th. Finally, Guggenheim reiterated a “buy” rating and issued a $320.00 price objective on shares of Tesla in a research report on Wednesday, April 19th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $294.15.

In related news, Director Robyn M. Denholm sold 20,000 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $6,235,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 4,690 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $367.68, for a total transaction of $1,724,419.20. Following the sale, the director now directly owns 166,164 shares of the company’s stock, valued at approximately $61,095,179.52. The disclosure for this sale can be found here. Insiders have sold 242,290 shares of company stock valued at $74,919,505 in the last three months. 23.10% of the stock is currently owned by corporate insiders.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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