Opes Wealth Management LLC Purchases Shares of 759 Tesla, Inc. $TSLA

Opes Wealth Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 759 shares of the electric vehicle producer’s stock, valued at approximately $241,000.

Other large investors also recently bought and sold shares of the company. Siren L.L.C. acquired a new position in shares of Tesla during the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC grew its position in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares during the period. Keystone Global Partners LLC purchased a new position in Tesla in the first quarter worth approximately $594,000. Strs Ohio purchased a new position in Tesla in the first quarter worth approximately $205,495,000. Finally, IFM Investors Pty Ltd grew its position in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday. TD Cowen raised their price target on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. BNP Paribas Exane initiated coverage on Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target for the company. Barclays restated a “negative” rating and set a $350.00 price target (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Finally, Piper Sandler raised their price target on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $380.97.

Tesla Trading Up 2.3%

NASDAQ:TSLA opened at $448.98 on Friday. The firm has a market cap of $1.49 trillion, a PE ratio of 299.32, a price-to-earnings-growth ratio of 15.78 and a beta of 2.08. The stock has a fifty day moving average price of $396.00 and a 200 day moving average price of $338.45. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.72% and a net margin of 5.51%.Tesla’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.