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

Octavia Wealth Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,095 shares of the electric vehicle producer’s stock after buying an additional 973 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Tesla were worth $1,602,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Integris Wealth Management LLC boosted its position in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the period. Echo Wealth Management LLC grew its holdings in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co boosted its position in Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the last quarter. Bellevue Asset Management LLC lifted its position in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares during the last quarter. Finally, Cypress Capital Group lifted its position in shares of Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.2 %

Tesla stock traded up $0.53 during trading hours on Tuesday, hitting $214.64. The company had a trading volume of 42,399,133 shares, compared to its average volume of 97,209,750. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a 50-day moving average price of $222.63 and a two-hundred day moving average price of $193.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market cap of $685.70 billion, a P/E ratio of 55.20, a P/E/G ratio of 5.55 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSLA. Guggenheim reissued a “sell” rating and issued a $134.00 target price on shares of Tesla in a report on Tuesday, July 23rd. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. KGI Securities restated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Argus reissued a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Finally, Citigroup dropped their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $204.21.

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.