Verde Capital Management Purchases 997 Shares of Tesla, Inc. (NASDAQ:TSLA)

Verde Capital Management boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,819 shares of the electric vehicle producer’s stock after acquiring an additional 997 shares during the period. Tesla accounts for 1.5% of Verde Capital Management’s investment portfolio, making the stock its 13th biggest position. Verde Capital Management’s holdings in Tesla were worth $5,395,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC lifted its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC lifted its position in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC boosted its stake in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. HSBC dropped their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Canaccord Genuity Group dropped their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Mizuho boosted their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Piper Sandler set a $400.00 price objective on shares of Tesla in a research note on Tuesday, May 6th. Finally, Guggenheim reissued a “sell” rating and set a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $293.97.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 984,783 shares of company stock worth $320,019,942. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $349.09 on Friday. The firm has a 50 day moving average of $286.92 and a 200 day moving average of $333.95. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the firm posted $0.45 earnings per share. On average, research analysts anticipate 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.