Tesla, Inc. $TSLA Stake Boosted by Versant Capital Management Inc

Key Points

• Versant Capital Management Inc increased its stake in Tesla by 21.2%, owning 8,147 shares valued at $2.58 million, as part of recent institutional investment activity in the stock.
• Wall Street analysts have mixed ratings on Tesla, with price targets ranging from $175.00 to $410.00. The average consensus rating for the stock is currently a "Hold" with a target price of $303.00.
• Despite a recent 7.4% rise in stock price, Tesla reported lower quarterly earnings than expected, with EPS at $0.40 compared to an expected $0.43, highlighting ongoing challenges in revenue performance.

Versant Capital Management Inc increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,147 shares of the electric vehicle producer's stock after purchasing an additional 1,427 shares during the quarter. Versant Capital Management Inc's holdings in Tesla were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TSLA. Brighton Jones LLC increased its stake in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Tesla during the 4th quarter worth about $346,000. Highview Capital Management LLC DE acquired a new stake in Tesla during the 4th quarter worth about $2,367,000. Finally, Bison Wealth LLC boosted its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TSLA shares. Guggenheim restated a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $303.00.

Tesla Stock Up 7.4%

TSLA opened at $395.94 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a market cap of $1.28 trillion, a P/E ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. The business has a 50 day moving average price of $328.89 and a 200 day moving average price of $303.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock worth $51,999,662 over the last three months. 20.70% of the stock is currently owned by insiders.

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.

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