Verdence Capital Advisors LLC Buys 883 Shares of Tesla, Inc. (NASDAQ:TSLA)

Verdence Capital Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the 4th quarter, Holdings Channel reports. The fund owned 15,215 shares of the electric vehicle producer’s stock after acquiring an additional 883 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Tesla were worth $6,144,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TSLA. Swedbank AB increased its position in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Tesla in the third quarter valued at $403,000. Heritage Investors Management Corp bought a new position in Tesla in the third quarter valued at $232,000. Crestwood Advisors Group LLC grew its position in Tesla by 10.0% in the third quarter. Crestwood Advisors Group LLC now owns 9,700 shares of the electric vehicle producer’s stock valued at $2,538,000 after purchasing an additional 878 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its position in Tesla by 6.8% in the third quarter. Beacon Financial Advisory LLC now owns 7,300 shares of the electric vehicle producer’s stock valued at $1,910,000 after purchasing an additional 467 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 422,386 shares of company stock worth $153,916,675. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Evercore ISI raised their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Piper Sandler raised their target price on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $315.33.

Tesla Stock Up 2.6 %

Shares of NASDAQ:TSLA opened at $279.10 on Thursday. The firm has a market cap of $897.73 billion, a P/E ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business has a fifty day simple moving average of $374.97 and a 200 day simple moving average of $318.13.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current 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.