Tesla, Inc. $TSLA Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,775 shares of the electric vehicle producer’s stock after selling 1,491 shares during the quarter. Verus Capital Partners LLC’s holdings in Tesla were worth $6,599,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Simplify Asset Management Inc. increased its stake in shares of Tesla by 87.1% during the 2nd quarter. Simplify Asset Management Inc. now owns 24,141 shares of the electric vehicle producer’s stock worth $7,669,000 after purchasing an additional 11,237 shares in the last quarter. STF Management LP lifted its stake in shares of Tesla by 3.1% in the second quarter. STF Management LP now owns 22,021 shares of the electric vehicle producer’s stock worth $6,995,000 after acquiring an additional 670 shares in the last quarter. Mayport LLC raised its stake in shares of Tesla by 3.8% in the 2nd quarter. Mayport LLC now owns 1,947 shares of the electric vehicle producer’s stock valued at $618,000 after purchasing an additional 72 shares in the last quarter. Fagan Associates Inc. boosted its position in shares of Tesla by 1.8% during the second quarter. Fagan Associates Inc. now owns 2,786 shares of the electric vehicle producer’s stock worth $885,000 after buying an additional 50 shares during the period. Finally, Clarity Wealth Advisors LLC lifted its holdings in shares of Tesla by 18.0% during the second quarter. Clarity Wealth Advisors LLC now owns 17,245 shares of the electric vehicle producer’s stock valued at $5,478,000 after purchasing an additional 2,627 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TSLA shares. DZ Bank reiterated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Bank of America increased their target price on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Roth Capital set a $505.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $391.08.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Up 3.7%

Shares of TSLA stock opened at $445.23 on Tuesday. The stock has a market cap of $1.48 trillion, a P/E ratio of 296.82, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a 50 day simple moving average of $423.19 and a two-hundred day simple moving average of $357.59. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.