Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Opes Wealth Management LLC

Opes Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 200.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,305 shares of the electric vehicle producer’s stock after purchasing an additional 870 shares during the quarter. Opes Wealth Management LLC’s holdings in Tesla were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cranbrook Wealth Management LLC lifted its holdings in Tesla by 224.1% in the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 65 shares during the period. Coston McIsaac & Partners increased its position in shares of Tesla by 200.0% in the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. TFO TDC LLC purchased a new position in shares of Tesla in the second quarter valued at $27,000. Horan Securities Inc. increased its position in shares of Tesla by 164.3% in the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 23 shares in the last quarter. Finally, West Oak Capital LLC purchased a new position in shares of Tesla in the third quarter valued at $27,000. 43.00% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 4.9 %

NASDAQ TSLA opened at $133.42 on Friday. The stock has a market cap of $421.31 billion, a PE ratio of 41.22, a P/E/G ratio of 0.95 and a beta of 2.02. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $384.29. The business has a 50 day moving average price of $150.72 and a two-hundred day moving average price of $222.02. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA – Get Rating) last released its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. The company had revenue of $21.45 billion during the quarter, compared to analysts’ expectations of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business’s revenue was up 55.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 3.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial dropped their price target on Tesla from $348.00 to $299.00 and set a “buy” rating for the company in a research report on Tuesday, January 3rd. TheStreet cut Tesla from a “b-” rating to a “c+” rating in a research report on Tuesday, November 1st. Global Equities Research restated a “buy” rating on shares of Tesla in a research report on Tuesday, November 8th. Wedbush cut their target price on shares of Tesla from $250.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, December 23rd. Finally, Robert W. Baird cut their target price on shares of Tesla from $316.00 to $252.00 and set an “outperform” rating for the company in a research note on Wednesday, December 28th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $218.29.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the transaction, the senior vice president now directly owns 62,988 shares in the company, valued at approximately $14,484,090.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Elon Musk sold 4,400,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $191.63, for a total value of $843,172,000.00. Following the sale, the chief executive officer now directly owns 445,617,432 shares in the company, valued at $85,393,668,494.16. The disclosure for this sale can be found here. In the last three months, insiders sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is currently owned by insiders.

Tesla Company Profile

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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.