Virtue Capital Management LLC Purchases 2,067 Shares of Tesla, Inc. (NASDAQ:TSLA)

Virtue Capital Management LLC raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 54.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,844 shares of the electric vehicle producer's stock after acquiring an additional 2,067 shares during the quarter. Virtue Capital Management LLC's holdings in Tesla were worth $2,360,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Raymond James cut shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Finally, HSBC lowered their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $293.97.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 26,950 shares in the company, valued at $9,435,464.50. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,623 shares of company stock worth $116,650,831. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $23.55 during trading hours on Tuesday, reaching $362.89. The stock had a trading volume of 118,443,476 shares, compared to its average volume of 97,589,424. The business's fifty day moving average is $279.40 and its two-hundred day moving average is $333.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $1.17 trillion, a price-to-earnings ratio of 177.89, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a twelve month low of $167.41 and a twelve 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 firm 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 quarter in the previous year, the company posted $0.45 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current 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.