Tesla, Inc. $TSLA Stake Boosted by Virtue Capital Management LLC

Virtue Capital Management LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 34.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,890 shares of the electric vehicle producer’s stock after acquiring an additional 2,028 shares during the quarter. Virtue Capital Management LLC’s holdings in Tesla were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Harborfront Financial Group LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $34,000. Montgomery Financial Services LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $40,000. Timbuktu Capital Management LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $42,000. Finally, Navigoe LLC acquired a new position in Tesla in the second quarter worth approximately $45,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays raised shares of Tesla from an “outperform” rating to an “overweight” rating and raised their price objective for the company from $370.00 to $450.00 in a research report on Monday, October 26th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Tesla in a research note on Monday, October 26th. They set a “buy” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Tesla in a report on Monday, October 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $475.00 price objective (up from $450.00) on shares of Tesla in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Moderate Buy” and a consensus price target of $414.51.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $360.13, for a total value of $938,498.78. Following the transaction, the chief financial officer owned 25,972 shares of the company’s stock, valued at $9,353,296.36. This trade represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 20.00% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $399.81 on Monday. The business’s 50-day simple moving average is $369.61 and its 200-day simple moving average is $385.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.39 and a current ratio of 1.74. Tesla, Inc. has a 52 week low of $297.38 and a 52 week high of $498.83. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 439.36, a P/E/G ratio of 24.77 and a beta of 1.74.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $28.05 billion during the quarter, compared to analyst estimates of $28.06 billion. Tesla had a return on equity of 3.03% and a net margin of 3.11%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 0.67 earnings per share for the current fiscal year.

Trending Headlines about Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: European sales showed meaningful improvement in October: Tesla registrations rose 248% year over year in Sweden, 131% in Norway and 34% in Denmark. The gains suggest Tesla may be beginning to recover from its prolonged global sales slump. Tesla registrations surge across Northern Europe in October
• Positive Sentiment: Tesla’s Cybercab and robotaxi expansion remains a major part of the bullish investment case. New or expanded operations in Texas, Nevada and other U.S. markets could create higher-margin, recurring software and mobility revenue if Tesla reaches its targeted operating cost of roughly $0.30 per paid mile. Cybercab Expansion Might Change the Case for Investing in Tesla Stock
• Neutral Sentiment: Tesla may be reconsidering a larger role for Taiwan Semiconductor Manufacturing Co. in its Texas Terafab chip project. TSMC’s manufacturing expertise could improve execution, although the report also suggests Tesla may have less direct control over a strategically important initiative. Tesla’s Terafab May Reportedly Lean on TSMC After All
• Neutral Sentiment: Reports that Tesla and SpaceX are exploring a combination continue to generate speculative upside scenarios, but the transaction would require agreement on valuation, exchange terms and shareholder approval. The potential deal is not yet a completed corporate action. Barclays Says a SpaceX Merger Is Now a Key Part of the Tesla Bull Case
• Negative Sentiment: Investor Gary Black says Tesla’s U.S. EV share has fallen from approximately 80% to 52% as smaller and lesser-known rivals gain ground. His call for stronger marketing highlights competitive pressure and could weigh on confidence in Tesla’s ability to justify its very high valuation. Gary Black Says Tesla Is Losing EV Share
• Negative Sentiment: BYD, Xiaomi and XPeng reported strong October sales in China, reinforcing the threat from increasingly capable local competitors. That pressure is especially important because Tesla trades at a substantial earnings premium despite modest profitability and recently declining revenue. Tesla China EV Rivals Report Strong Sales

About Tesla

Tesla, Inc is an electric vehicle and clean energy company headquartered in Austin, Texas. Founded in 2003, the company designs, manufactures and sells electric vehicles, including the Model S, Model 3, Model X, Model Y and Cybertruck. Tesla also develops vehicle software, driver-assistance features and related services intended to support the operation and ownership of its vehicles.

Beyond automobiles, Tesla produces energy storage products for residential, commercial and utility-scale applications, including the Powerwall and Megapack.