Opal Wealth Advisors LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Opal Wealth Advisors LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300 shares of the electric vehicle producer’s stock after purchasing an additional 35 shares during the quarter. Tesla accounts for about 1.2% of Opal Wealth Advisors LLC’s investment portfolio, making the stock its 15th largest position. Opal Wealth Advisors LLC’s holdings in Tesla were worth $1,401,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Acorn Financial Advisory Services Inc. ADV grew its holdings in Tesla by 0.4% during the 1st quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,404 shares of the electric vehicle producer’s stock worth $2,591,000 after acquiring an additional 10 shares in the last quarter. Shilanski & Associates Inc. grew its holdings in Tesla by 4.9% during the 1st quarter. Shilanski & Associates Inc. now owns 215 shares of the electric vehicle producer’s stock worth $232,000 after acquiring an additional 10 shares in the last quarter. Tennessee Valley Asset Management Partners grew its holdings in Tesla by 3.2% during the 1st quarter. Tennessee Valley Asset Management Partners now owns 323 shares of the electric vehicle producer’s stock worth $348,000 after acquiring an additional 10 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Tesla by 0.6% during the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,847 shares of the electric vehicle producer’s stock worth $1,952,000 after acquiring an additional 11 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Tesla by 5.8% during the 1st quarter. Empowered Funds LLC now owns 202 shares of the electric vehicle producer’s stock worth $218,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 40.64% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock traded down $60.57 during midday trading on Friday, hitting $865.33. The company had a trading volume of 1,305,908 shares, compared to its average volume of 30,116,138. The business’s 50 day simple moving average is $741.57 and its two-hundred day simple moving average is $843.26. The stock has a market cap of $903.83 billion, a PE ratio of 104.26, a P/E/G ratio of 2.79 and a beta of 2.17. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.43 and a quick ratio of 1.06. Tesla, Inc. has a 1-year low of $620.57 and a 1-year high of $1,243.49.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.46. The business had revenue of $16.93 billion for the quarter, compared to the consensus estimate of $16.92 billion. Tesla had a net margin of 14.17% and a return on equity of 29.04%. Tesla’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter last year, the company posted $1.02 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 10.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several analyst reports. BNP Paribas decreased their price target on shares of Tesla from $700.00 to $600.00 and set an “underperform” rating for the company in a research report on Wednesday, May 18th. Canaccord Genuity Group increased their price target on shares of Tesla from $801.00 to $815.00 in a research report on Thursday, July 21st. Oppenheimer increased their price target on shares of Tesla from $1,103.00 to $1,291.00 and gave the company an “outperform” rating in a research report on Thursday, April 21st. Royal Bank of Canada raised shares of Tesla from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $1,175.00 to $1,100.00 in a research report on Monday, June 13th. Finally, UBS Group raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $1,100.00 price objective for the company in a research report on Thursday, June 9th. Eight research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $859.50.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $904.00, for a total value of $7,910,000.00. Following the completion of the transaction, the director now directly owns 1,800 shares in the company, valued at approximately $1,627,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Zachary Kirkhorn sold 2,538 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total transaction of $1,823,070.78. Following the transaction, the chief financial officer now directly owns 62,402 shares of the company’s stock, valued at approximately $44,823,980.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $904.00, for a total value of $7,910,000.00. Following the transaction, the director now directly owns 1,800 shares in the company, valued at $1,627,200. The disclosure for this sale can be found here. Insiders sold 66,239 shares of company stock valued at $53,099,879 over the last ninety days. 25.10% of the stock is owned by insiders.

Tesla Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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