Opal Wealth Advisors LLC Purchases 322 Shares of Tesla, Inc. (NASDAQ:TSLA)

Opal Wealth Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,407 shares of the electric vehicle producer’s stock after purchasing an additional 322 shares during the period. Tesla makes up approximately 0.7% of Opal Wealth Advisors LLC’s holdings, making the stock its 26th biggest position. Opal Wealth Advisors LLC’s holdings in Tesla were worth $2,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after acquiring an additional 24 shares in the last quarter. Strategic Investment Advisors MI boosted its position in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its position in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its position in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Prospect Financial Services LLC boosted its position in Tesla by 0.3% in the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock valued at $3,029,000 after buying an additional 26 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $355.94 on Friday. The business has a 50-day moving average of $407.25 and a 200 day moving average of $306.44. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.48, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TSLA shares. JPMorgan Chase & Co. upped their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, January 29th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday. Finally, Stifel Nicolaus lowered their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $326.50.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 in the last three months. 20.70% of the stock is owned by company insiders.

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.