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

Opal Wealth Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 2.4% during the first quarter, Holdings Channel reports. The fund owned 4,514 shares of the electric vehicle producer’s stock after buying an additional 107 shares during the period. Opal Wealth Advisors LLC’s holdings in Tesla were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of TSLA. Cooper Financial Group raised its position in shares of Tesla by 1.1% in the first quarter. Cooper Financial Group now owns 57,274 shares of the electric vehicle producer’s stock valued at $10,068,000 after purchasing an additional 619 shares during the period. Salem Investment Counselors Inc. boosted its position in shares of Tesla by 24.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 20,130 shares of the electric vehicle producer’s stock valued at $3,539,000 after acquiring an additional 3,980 shares during the last quarter. Unique Wealth LLC lifted its position in Tesla by 3.1% during the first quarter. Unique Wealth LLC now owns 2,008 shares of the electric vehicle producer’s stock valued at $354,000 after purchasing an additional 60 shares during the last quarter. International Assets Investment Management LLC increased its stake in Tesla by 26.4% in the first quarter. International Assets Investment Management LLC now owns 31,554 shares of the electric vehicle producer’s stock valued at $5,529,000 after acquiring an additional 6,591 shares during the last quarter. Finally, &PARTNERS raised its holdings in shares of Tesla by 5.5% during the 1st quarter. &PARTNERS now owns 7,040 shares of the electric vehicle producer’s stock valued at $1,238,000 after buying an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Canaccord Genuity Group lowered their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Finally, Mizuho cut their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.62.

Read Our Latest Analysis on TSLA

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock worth $19,285,643 in the last three months. 25.10% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock traded up $1.44 during trading hours on Friday, reaching $183.01. The company had a trading volume of 63,029,482 shares, compared to its average volume of 63,980,940. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The firm has a market cap of $583.66 billion, a PE ratio of 46.69, a price-to-earnings-growth ratio of 4.50 and a beta of 2.32. The business has a fifty day moving average price of $173.99 and a 200-day moving average price of $193.08.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Sell-side analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Tesla Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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