Tesla, Inc. $TSLA Shares Purchased by Virtue Capital Management LLC

Virtue Capital Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 34.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,890 shares of the electric vehicle producer’s stock after buying an additional 2,028 shares during the period. Virtue Capital Management LLC’s holdings in Tesla were worth $2,799,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Peirce Capital Management LLC grew its stake in shares of Tesla by 1.5% in the second quarter. Peirce Capital Management LLC now owns 1,657 shares of the electric vehicle producer’s stock worth $697,000 after acquiring an additional 25 shares during the last quarter. Phillip James Consulting Co. raised its stake in Tesla by 8.7% during the 1st quarter. Phillip James Consulting Co. now owns 326 shares of the electric vehicle producer’s stock valued at $121,000 after purchasing an additional 26 shares during the last quarter. Cadence Wealth Management LLC raised its stake in Tesla by 4.7% during the 1st quarter. Cadence Wealth Management LLC now owns 580 shares of the electric vehicle producer’s stock valued at $216,000 after purchasing an additional 26 shares during the last quarter. Crumly & Associates Inc. boosted its holdings in Tesla by 0.6% in the 2nd quarter. Crumly & Associates Inc. now owns 4,698 shares of the electric vehicle producer’s stock valued at $1,976,000 after purchasing an additional 26 shares during the period. Finally, Brickley Wealth Management boosted its holdings in Tesla by 3.6% in the 2nd quarter. Brickley Wealth Management now owns 757 shares of the electric vehicle producer’s stock valued at $318,000 after purchasing an additional 26 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $399.81 on Monday. The stock has a market cap of $1.58 trillion, a P/E ratio of 439.36, a PEG ratio of 24.77 and a beta of 1.74. The company’s 50-day simple moving average is $369.61 and its 200 day simple moving average is $385.81. Tesla, Inc. has a twelve month low of $297.38 and a twelve month high of $498.83. The company has a quick ratio of 1.39, a current ratio of 1.74 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $28.05 billion during the quarter, compared to analysts’ expectations of $28.06 billion. Tesla had a net margin of 3.11% and a return on equity of 3.03%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 0.67 earnings per share for the current fiscal year.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: European sales showed meaningful improvement in October: Tesla registrations rose 248% year over year in Sweden, 131% in Norway and 34% in Denmark. The gains suggest Tesla may be beginning to recover from its prolonged global sales slump. Tesla registrations surge across Northern Europe in October
• Positive Sentiment: Tesla’s Cybercab and robotaxi expansion remains a major part of the bullish investment case. New or expanded operations in Texas, Nevada and other U.S. markets could create higher-margin, recurring software and mobility revenue if Tesla reaches its targeted operating cost of roughly $0.30 per paid mile. Cybercab Expansion Might Change the Case for Investing in Tesla Stock
• Neutral Sentiment: Tesla may be reconsidering a larger role for Taiwan Semiconductor Manufacturing Co. in its Texas Terafab chip project. TSMC’s manufacturing expertise could improve execution, although the report also suggests Tesla may have less direct control over a strategically important initiative. Tesla’s Terafab May Reportedly Lean on TSMC After All
• Neutral Sentiment: Reports that Tesla and SpaceX are exploring a combination continue to generate speculative upside scenarios, but the transaction would require agreement on valuation, exchange terms and shareholder approval. The potential deal is not yet a completed corporate action. Barclays Says a SpaceX Merger Is Now a Key Part of the Tesla Bull Case
• Negative Sentiment: Investor Gary Black says Tesla’s U.S. EV share has fallen from approximately 80% to 52% as smaller and lesser-known rivals gain ground. His call for stronger marketing highlights competitive pressure and could weigh on confidence in Tesla’s ability to justify its very high valuation. Gary Black Says Tesla Is Losing EV Share
• Negative Sentiment: BYD, Xiaomi and XPeng reported strong October sales in China, reinforcing the threat from increasingly capable local competitors. That pressure is especially important because Tesla trades at a substantial earnings premium despite modest profitability and recently declining revenue. Tesla China EV Rivals Report Strong Sales

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the transaction, the chief financial officer owned 25,972 shares in the company, valued at $9,353,296.36. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. HSBC restated a “reduce” rating and issued a $157.00 price target on shares of Tesla in a research report on Monday, October 5th. Royal Bank Of Canada cut shares of Tesla from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 22nd. Citizens Jmp began coverage on shares of Tesla in a research note on Thursday, July 9th. They issued a “market perform” rating for the company. Oppenheimer started coverage on Tesla in a research report on Thursday, October 22nd. They set an “outperform” rating on the stock. Finally, TD Cowen assumed coverage on Tesla in a research note on Monday, October 26th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Moderate Buy” and a consensus price target of $414.51.

About Tesla

Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.

Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.