Tesla, Inc. (NASDAQ:TSLA) is MetLife Investment Management LLC’s 6th Largest Position

MetLife Investment Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 800,096 shares of the electric vehicle producer’s stock after acquiring an additional 4,966 shares during the quarter. Tesla makes up 1.6% of MetLife Investment Management LLC’s investment portfolio, making the stock its 6th largest position. MetLife Investment Management LLC’s holdings in Tesla were worth $209,441,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Osaic Holdings Inc. grew its holdings in shares of Tesla by 54.1% during the second quarter. Osaic Holdings Inc. now owns 1,483,254 shares of the electric vehicle producer’s stock worth $259,531,000 after buying an additional 520,920 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Tesla by 140.7% during the second quarter. Bessemer Group Inc. now owns 29,711 shares of the electric vehicle producer’s stock worth $7,777,000 after buying an additional 17,368 shares in the last quarter. EWA LLC purchased a new stake in Tesla in the second quarter valued at approximately $257,000. NWK Group Inc. increased its position in Tesla by 23.1% during the second quarter. NWK Group Inc. now owns 35,355 shares of the electric vehicle producer’s stock worth $9,255,000 after purchasing an additional 6,642 shares during the last quarter. Finally, IAG Wealth Partners LLC increased its position in Tesla by 24.6% during the second quarter. IAG Wealth Partners LLC now owns 339 shares of the electric vehicle producer’s stock worth $89,000 after purchasing an additional 67 shares during the last quarter. 41.87% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA traded down $0.09 on Monday, reaching $234.21. The company had a trading volume of 57,422,876 shares, compared to its average volume of 139,688,828. Tesla, Inc. has a one year low of $101.81 and a one year high of $299.29. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $240.04 and a 200-day moving average of $238.24. The company has a market capitalization of $744.54 billion, a P/E ratio of 74.81, a PEG ratio of 4.38 and a beta of 2.28.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.07). Tesla had a net margin of 11.21% and a return on equity of 21.47%. The business had revenue of $23.35 billion for the quarter, compared to the consensus estimate of $24.19 billion. During the same quarter last year, the business posted $0.95 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TSLA shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $275.00 price target on shares of Tesla in a research report on Monday, September 18th. Truist Financial decreased their price objective on shares of Tesla from $254.00 to $243.00 and set a “hold” rating for the company in a research note on Monday, October 2nd. HSBC began coverage on shares of Tesla in a research note on Thursday, November 9th. They set a “reduce” rating and a $146.00 price objective for the company. Piper Sandler decreased their price objective on shares of Tesla from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Finally, Guggenheim reiterated a “sell” rating and set a $125.00 price objective on shares of Tesla in a research note on Thursday, October 19th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $233.87.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $257.23, for a total value of $643,075.00. Following the completion of the transaction, the senior vice president now directly owns 57,972 shares in the company, valued at $14,912,137.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $257.23, for a total value of $643,075.00. Following the completion of the transaction, the senior vice president now directly owns 57,972 shares in the company, valued at $14,912,137.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the completion of the sale, the chief financial officer now directly owns 104,504 shares of the company’s stock, valued at $26,128,090.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,065 shares of company stock worth $10,248,880. Corporate insiders own 25.10% of the company’s stock.

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. It 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, retail merchandise, and vehicle insurance services.