Opes Wealth Management LLC Has $345,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Opes Wealth Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,388 shares of the electric vehicle producer’s stock after selling 72 shares during the quarter. Opes Wealth Management LLC’s holdings in Tesla were worth $345,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. grew its stake in shares of Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares during the period. State Street Corp increased its position in shares of Tesla by 0.7% during the 1st quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after purchasing an additional 685,454 shares during the last quarter. Morgan Stanley increased its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. FMR LLC increased its position in shares of Tesla by 0.9% during the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares during the last quarter. Finally, Norges Bank bought a new position in Tesla during the 4th quarter worth approximately $3,459,540,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Tesla from a “buy” rating to a “hold” rating and cut their price objective for the stock from $189.00 to $123.00 in a research report on Thursday. KGI Securities reiterated a “neutral” rating and set a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and issued a $298.00 price target on shares of Tesla in a research note on Wednesday, March 27th. Wells Fargo & Company cut their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Finally, Citigroup cut their price target on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $194.70.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last ninety days. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Tesla stock traded down $5.52 during midday trading on Thursday, reaching $149.93. 95,522,509 shares of the stock traded hands, compared to its average volume of 101,837,430. The stock’s fifty day moving average is $180.24 and its 200-day moving average is $212.64. Tesla, Inc. has a 12 month low of $148.70 and a 12 month high of $299.29. The stock has a market cap of $477.50 billion, a P/E ratio of 35.25, a PEG ratio of 4.15 and a beta of 2.39. 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 posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current year.

Tesla Company 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.