Tesla, Inc. (NASDAQ:TSLA) Stake Reduced by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,085 shares of the electric vehicle producer’s stock after selling 48 shares during the period. Opal Wealth Advisors LLC’s holdings in Tesla were worth $1,330,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Clean Energy Transition LLP lifted its position in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly 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 SEC, which is available through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Wolfe Research initiated coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Truist Financial increased their price target on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Nine 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. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Stock Performance

NASDAQ TSLA opened at $219.57 on Wednesday. The firm’s fifty day moving average price is $226.22 and its two-hundred day moving average price is $204.57. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The firm has a market capitalization of $700.25 billion, a P/E ratio of 56.01, a price-to-earnings-growth ratio of 6.48 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

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

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.