Vermillion Wealth Management Inc. Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

Vermillion Wealth Management Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,061 shares of the electric vehicle producer's stock, valued at approximately $428,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its position in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new position in shares of Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% 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 3,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $9,435,464.50. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,623 shares of company stock valued at $116,650,831 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Up 6.6%

Shares of NASDAQ TSLA traded up $22.56 during mid-day trading on Tuesday, reaching $361.90. The company had a trading volume of 107,814,563 shares, compared to its average volume of 97,577,962. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock's 50 day moving average is $279.40 and its 200-day moving average is $333.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $1.17 trillion, a PE ratio of 177.40, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the firm posted $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on TSLA shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Cantor Fitzgerald decreased their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $293.97.

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.