Stock Traders Purchase High Volume of Tesla Call Options (TSLA)
Tesla Inc (NASDAQ:TSLA) was the target of some unusual options trading activity on Friday. Stock traders bought 177,653 call options on the stock. This is an increase of approximately 229% compared to the average daily volume of 54,066 call options.
In related news, CEO Elon Musk acquired 95,420 shares of the company’s stock in a transaction on Friday, March 17th. The stock was acquired at an average price of $262.00 per share, with a total value of $25,000,040.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John Douglas Field sold 500 shares of the stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $301.45, for a total transaction of $150,725.00. The disclosure for this sale can be found here. Insiders have sold a total of 242,791 shares of company stock valued at $74,745,344 in the last three months. Insiders own 27.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TSLA. Gerstein Fisher bought a new stake in Tesla during the third quarter worth about $330,000. Cetera Advisors LLC increased its stake in Tesla by 3.4% in the third quarter. Cetera Advisors LLC now owns 3,549 shares of the electric vehicle producer’s stock worth $720,000 after buying an additional 118 shares during the period. Tanaka Capital Management Inc. increased its stake in Tesla by 41.1% in the third quarter. Tanaka Capital Management Inc. now owns 18,776 shares of the electric vehicle producer’s stock worth $3,831,000 after buying an additional 5,465 shares during the period. Xact Kapitalforvaltning AB bought a new stake in Tesla during the third quarter worth about $2,888,000. Finally, Green Square Capital LLC increased its stake in Tesla by 0.8% in the third quarter. Green Square Capital LLC now owns 1,296 shares of the electric vehicle producer’s stock worth $264,000 after buying an additional 10 shares during the period. 57.29% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. Piper Jaffray Companies reissued an “overweight” rating on shares of Tesla in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $314.00 price objective on shares of Tesla in a report on Thursday. Robert W. Baird reissued an “outperform” rating and set a $368.00 price objective on shares of Tesla in a report on Wednesday. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $273.28 price objective for the company in a report on Wednesday. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $250.00 price objective on shares of Tesla in a report on Monday, May 15th. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $274.06.
Shares of Tesla (NASDAQ:TSLA) traded up 2.62% during trading on Friday, hitting $325.14. 7,800,649 shares of the stock were exchanged. Tesla has a one year low of $178.19 and a one year high of $327.66. The company’s market cap is $53.41 billion. The stock’s 50 day moving average price is $310.16 and its 200-day moving average price is $253.00.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Tesla had a negative net margin of 14.74% and a negative return on equity of 29.17%. On average, analysts predict that Tesla will post ($5.80) EPS for the current year.
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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.
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