Veracity Capital LLC Has $957,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Veracity Capital LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,370 shares of the electric vehicle producer’s stock after buying an additional 81 shares during the quarter. Veracity Capital LLC’s holdings in Tesla were worth $957,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its position in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management lifted its position in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd grew its position in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares in the last quarter. MML Investors Services LLC raised its holdings in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TSLA shares. Stifel Nicolaus lifted their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. New Street Research upgraded 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. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Friday, January 3rd. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $313.84.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % 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. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 over the last three months. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

TSLA stock opened at $406.58 on Friday. The firm has a market cap of $1.31 trillion, a PE ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $398.82 and a 200-day moving average of $294.03. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for 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%. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 2.01 earnings per share 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.