Octavia Wealth Advisors LLC Acquires 316 Shares of Tesla, Inc. (NASDAQ:TSLA)

Octavia Wealth Advisors LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,411 shares of the electric vehicle producer’s stock after acquiring an additional 316 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Tesla were worth $2,201,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in shares of Tesla by 0.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock worth $351,166,000 after buying an additional 6,034 shares in the last quarter. O Dell Group LLC increased its stake in shares of Tesla by 14.3% during the 4th quarter. O Dell Group LLC now owns 999 shares of the electric vehicle producer’s stock worth $248,000 after purchasing an additional 125 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Tesla by 8.1% during the 4th quarter. Harbour Investments Inc. now owns 21,642 shares of the electric vehicle producer’s stock worth $5,378,000 after purchasing an additional 1,618 shares during the last quarter. Childress Capital Advisors LLC increased its stake in shares of Tesla by 8.0% during the 4th quarter. Childress Capital Advisors LLC now owns 8,924 shares of the electric vehicle producer’s stock worth $2,217,000 after purchasing an additional 661 shares during the last quarter. Finally, Secured Retirement Advisors LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $374,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TSLA shares. KGI Securities restated a “neutral” rating and set a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Truist Financial lifted their price objective on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a research note on Friday. Stifel Nicolaus assumed coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Finally, Citigroup reduced their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $210.72.

Tesla Stock Down 8.8 %

Shares of TSLA stock opened at $217.80 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The stock has a market cap of $695.79 billion, a P/E ratio of 61.18, a P/E/G ratio of 6.54 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a 50 day simple moving average of $225.43 and a two-hundred day simple moving average of $203.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. On average, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 over the last three months. Corporate insiders own 20.70% of the company’s stock.

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.