Verus Capital Partners LLC Reduces Stock Holdings in Tesla, Inc. $TSLA

Verus Capital Partners LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,775 shares of the electric vehicle producer’s stock after selling 1,491 shares during the quarter. Verus Capital Partners LLC’s holdings in Tesla were worth $6,599,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TSLA. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. LGT Financial Advisors LLC acquired a new position in Tesla in the second quarter valued at $29,000. Evergreen Private Wealth LLC boosted its position in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Graybill Wealth Management LTD. acquired a new stake in Tesla in the first quarter worth $36,000. Finally, Pacific Center for Financial Services raised its holdings in shares of Tesla by 44.7% during the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.7%

TSLA stock opened at $445.23 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company’s 50 day moving average price is $423.19 and its two-hundred day moving average price is $357.59. The company has a market capitalization of $1.48 trillion, a PE ratio of 296.82, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period last year, the company earned $0.72 EPS. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. Glj Research restated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Roth Capital set a $505.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Tesla in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Finally, Evercore ISI increased their price target on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $391.08.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. Company insiders own 19.90% of the company’s stock.

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.