Optivise Advisory Services LLC Grows Stock Holdings in Tesla, Inc. $TSLA

Optivise Advisory Services LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 27.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,785 shares of the electric vehicle producer’s stock after buying an additional 807 shares during the period. Optivise Advisory Services LLC’s holdings in Tesla were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TSLA. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the first quarter valued at $27,000. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Centennial Bank AR grew its holdings in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in Tesla during the 2nd quarter valued at about $29,000. Finally, Compass Wealth Management LLC grew its stake in Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the company an “overweight” rating in a research note on Thursday, October 23rd. President Capital boosted their price target on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Truist Financial boosted their price target on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their target price on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Evercore ISI boosted their target price on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $390.27.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Trading Up 2.6%

NASDAQ TSLA opened at $468.37 on Tuesday. The stock’s 50-day simple moving average is $412.95 and its two-hundred day simple moving average is $350.47. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 312.25, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS 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.