Opinicus Capital Inc. Takes $605,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Opinicus Capital Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,435 shares of the electric vehicle producer’s stock, valued at approximately $605,000.

Several other hedge funds have also modified their holdings of TSLA. Wyrmwood Management LLC acquired a new position in Tesla during the fourth quarter valued at $25,000. Lam Group Inc. acquired a new position in Tesla during the fourth quarter valued at $25,000. Mendota Financial Group LLC raised its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV raised its position in Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. raised its position in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock traded down $1.89 during mid-day trading on Friday, reaching $168.29. The stock had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. The firm’s 50 day simple moving average is $175.04 and its 200 day simple moving average is $208.00. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The firm has a market cap of $536.71 billion, a PE ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the prior year, the business posted $1.07 EPS. Tesla’s revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 1.97 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Truist Financial dropped their target price on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday. Morgan Stanley dropped their target price on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Wells Fargo & Company dropped their target price on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Finally, China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $186.70.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

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.