Verde Capital Management Grows Holdings in Tesla, Inc. $TSLA

Key Points

• Verde Capital Management increased its stake in Tesla by 5.4%, owning 21,953 shares worth approximately $6.97 million as of the end of the second quarter.
• Institutional investors control 66.20% of Tesla's stock, indicating strong institutional interest in the company.
• Tesla’s recent quarterly earnings showed a decline, with a reported $0.40 EPS missing analyst expectations of $0.43, alongside a revenue drop of 11.8% year-over-year.

Verde Capital Management lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,953 shares of the electric vehicle producer's stock after buying an additional 1,134 shares during the quarter. Tesla makes up 1.7% of Verde Capital Management's holdings, making the stock its 13th largest holding. Verde Capital Management's holdings in Tesla were worth $6,974,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC boosted its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC lifted its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. increased its position in shares of 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 buying an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm'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 value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm'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 completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,735,080.36. The trade was 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 valued at $51,999,662 in the last ninety days. Corporate insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TSLA shares. Wedbush reiterated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday, August 4th. Guggenheim reaffirmed a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Piper Sandler restated an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus target price of $303.00.

Tesla Stock Up 7.4%

TSLA opened at $395.94 on Friday. 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 business has a 50 day simple moving average of $328.89 and a 200-day simple moving average of $303.57. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

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

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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