Opal Wealth Advisors LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Opal Wealth Advisors LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,085 shares of the electric vehicle producer’s stock after selling 48 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Tesla were worth $1,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Braun Bostich & Associates Inc. raised its position in shares of Tesla by 2.1% during the 3rd quarter. Braun Bostich & Associates Inc. now owns 2,819 shares of the electric vehicle producer’s stock valued at $738,000 after buying an additional 59 shares during the period. Acorn Creek Capital LLC lifted its holdings in shares of Tesla by 9.4% in the 3rd quarter. Acorn Creek Capital LLC now owns 2,449 shares of the electric vehicle producer’s stock worth $641,000 after acquiring an additional 211 shares during the last quarter. EdgeRock Capital LLC boosted its position in shares of Tesla by 13.2% during the 3rd quarter. EdgeRock Capital LLC now owns 6,782 shares of the electric vehicle producer’s stock worth $1,774,000 after purchasing an additional 791 shares during the period. Lynch & Associates IN increased its holdings in Tesla by 5.6% in the 3rd quarter. Lynch & Associates IN now owns 1,538 shares of the electric vehicle producer’s stock valued at $402,000 after purchasing an additional 81 shares during the last quarter. Finally, First United Bank & Trust lifted its stake in Tesla by 222.3% during the third quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock worth $465,000 after purchasing an additional 1,225 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Citigroup dropped their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. KGI Securities restated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Finally, Mizuho increased their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $210.72.

Tesla Stock Up 0.2 %

Shares of Tesla stock opened at $219.57 on Wednesday. The company has a market capitalization of $700.25 billion, a PE ratio of 56.01, a P/E/G ratio of 6.48 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business has a 50-day moving average of $226.22 and a 200-day moving average of $204.57.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Tesla Company 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.