Octavia Wealth Advisors LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Octavia Wealth Advisors LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,853 shares of the electric vehicle producer’s stock after purchasing an additional 304 shares during the period. Octavia Wealth Advisors LLC’s holdings in Tesla were worth $1,206,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. raised its position in Tesla by 3.3% in the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after purchasing an additional 15 shares in the last quarter. City State Bank grew its stake in shares of Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after purchasing an additional 40 shares during the period. Marcum Wealth LLC raised its holdings in shares of Tesla by 0.6% in the 3rd quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock worth $1,850,000 after buying an additional 41 shares in the last quarter. Linscomb & Williams Inc. lifted its position in shares of Tesla by 3.5% during the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after buying an additional 42 shares during the period. Finally, Opal Wealth Advisors LLC boosted its stake in Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after buying an additional 42 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA traded down $5.55 during midday trading on Tuesday, reaching $155.93. 74,594,172 shares of the stock were exchanged, compared to its average volume of 101,818,133. Tesla, Inc. has a twelve month low of $152.37 and a twelve month high of $299.29. The company has a market cap of $496.60 billion, a P/E ratio of 36.36, a PEG ratio of 4.50 and a beta of 2.40. The stock’s 50 day simple moving average is $181.44 and its 200 day simple moving average is $213.70. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 1.98 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. UBS Group cut their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. JPMorgan Chase & Co. decreased their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Wedbush cut their price target on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Jefferies Financial Group lowered their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, Edward Jones cut shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $198.81.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last quarter. 20.90% of the stock is owned by corporate insiders.

Tesla Profile

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.