Veery Capital LLC Buys 818 Shares of Tesla, Inc. $TSLA

Key Points

• Veery Capital LLC increased its Tesla stake by 33.3%, owning a total of 3,271 shares valued at approximately $1,039,000 after acquiring 818 shares in Q2.
• Tesla's latest earnings report showed EPS of $0.40, missing estimates by $0.03, while revenue of $22.50 billion fell short of the expected $23.18 billion, marking an 11.8% decline year-over-year.
• Despite fluctuating investor sentiments, Tesla shares currently have a mixed outlook from analysts, with 17 Buy ratings, 14 Hold ratings, and 9 Sell ratings, and an average target price set at $303.00.

Veery Capital LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,271 shares of the electric vehicle producer's stock after purchasing an additional 818 shares during the quarter. Veery Capital LLC's holdings in Tesla were worth $1,039,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Tesla during the fourth quarter worth approximately $346,000. Highview Capital Management LLC DE acquired a new position in shares of Tesla during the fourth quarter worth approximately $2,367,000. Finally, Bison Wealth LLC lifted its holdings in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after buying an additional 3,558 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Tesla stock opened at $395.94 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a fifty day moving average price of $328.89 and a two-hundred day moving average price of $303.72. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 228.87, a P/E/G ratio of 13.81 and a beta of 2.06.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TSLA shares. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a research note on Monday, August 4th. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $303.00.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $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 148,606 shares of company stock worth $51,999,662 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.

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