Verum Partners LLC Buys 91 Shares of Tesla, Inc. (NASDAQ:TSLA)

Verum Partners LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,023 shares of the electric vehicle producer’s stock after buying an additional 91 shares during the period. Tesla accounts for approximately 0.8% of Verum Partners LLC’s portfolio, making the stock its 27th biggest holding. Verum Partners LLC’s holdings in Tesla were worth $2,836,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TSLA. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Tesla by 10.7% in the second quarter. Ameriprise Financial Inc. now owns 4,754,950 shares of the electric vehicle producer’s stock worth $941,050,000 after purchasing an additional 459,704 shares during the period. Drucker Wealth 3.0 LLC bought a new position in shares of Tesla in the second quarter worth about $445,000. DoubleLine ETF Adviser LP bought a new position in Tesla during the second quarter valued at about $14,152,000. Finally, Daymark Wealth Partners LLC increased its stake in Tesla by 252.1% during the second quarter. Daymark Wealth Partners LLC now owns 33,432 shares of the electric vehicle producer’s stock valued at $6,616,000 after acquiring an additional 23,938 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TSLA shares. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Piper Sandler boosted their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $309.48.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 617,886 shares of company stock worth $212,451,751. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $412.38 on Friday. The firm has a fifty day moving average of $395.08 and a two-hundred day moving average of $292.13. The stock has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 112.98, a PEG ratio of 8.55 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.01 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.