Octavia Wealth Advisors LLC Has $2.41 Million Holdings in Tesla, Inc. $TSLA

Octavia Wealth Advisors LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,570 shares of the electric vehicle producer’s stock after selling 1,030 shares during the period. Octavia Wealth Advisors LLC’s holdings in Tesla were worth $2,405,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. Conrad Siegel Investment Advisors Inc. grew its holdings in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares in the last quarter. Acorn Wealth Advisors LLC lifted its stake in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after acquiring an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd boosted its position in Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after acquiring an additional 36 shares during the last quarter. ACT Wealth Management LLC grew its stake in shares of Tesla by 0.7% during the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer’s stock worth $1,717,000 after acquiring an additional 36 shares in the last quarter. Finally, Capital Management Associates Inc raised its holdings in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after purchasing an additional 38 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Trading Down 4.4%

Tesla stock opened at $423.39 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a 50-day simple moving average of $349.83 and a 200 day simple moving average of $312.97. The stock has a market capitalization of $1.41 trillion, a P/E ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TSLA shares. William Blair restated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. China Renaissance reissued a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. The Goldman Sachs Group raised their price objective on Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Royal Bank Of Canada reaffirmed an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $326.74.

About Tesla

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.