Vise Technologies Inc. Buys New Holdings in Tesla, Inc. $TSLA

Vise Technologies Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 60,554 shares of the electric vehicle producer’s stock, valued at approximately $19,236,000. Tesla makes up 0.8% of Vise Technologies Inc.’s investment portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. grew its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Tesla during the second quarter worth $29,000. Evergreen Private Wealth LLC raised its stake in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in shares of Tesla in the 1st quarter valued at about $36,000. Finally, Pacific Center for Financial Services grew its position in shares of Tesla by 44.7% during the 1st quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Down 3.7%

Shares of Tesla stock opened at $429.52 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company’s 50 day moving average price is $420.97 and its 200-day moving average price is $356.28. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Mizuho raised their price objective on shares of Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Truist Financial raised their price target on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, China Renaissance upped their price target on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued 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 has a consensus rating of “Hold” and a consensus target price of $391.08.

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.