Vermillion Wealth Management Inc. Makes New $428,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Vermillion Wealth Management Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,061 shares of the electric vehicle producer's stock, valued at approximately $428,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new stake in Tesla during the fourth quarter worth $56,600,000. Stephens Consulting LLC grew its holdings in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after buying an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its holdings in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in Tesla in the 4th quarter valued at about $8,158,000. Finally, Vontobel Holding Ltd. increased its stake in Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock valued at $130,158,000 after buying an additional 60,342 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Piper Sandler set a $400.00 price objective on shares of Tesla in a research note on Tuesday, May 6th. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $293.97.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction on Friday, May 16th. The stock was sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $9,435,464.50. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,623 shares of company stock worth $116,650,831 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of Tesla stock traded down $1.70 on Wednesday, hitting $361.19. 49,181,198 shares of the company traded hands, compared to its average volume of 107,123,070. The firm's 50-day simple moving average is $281.93 and its 200 day simple moving average is $333.59. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.16 trillion, a P/E ratio of 177.06, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the business earned $0.45 EPS. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.