Veracity Capital LLC Purchases 208 Shares of Tesla, Inc. (NASDAQ:TSLA)

Veracity Capital LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,289 shares of the electric vehicle producer’s stock after purchasing an additional 208 shares during the quarter. Veracity Capital LLC’s holdings in Tesla were worth $599,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc raised its holdings in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Tesla in the first quarter valued at about $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla in the first quarter valued at about $79,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and set a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Truist Financial raised their price objective on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $210.72.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Down 0.1 %

TSLA stock opened at $220.70 on Friday. The company has a market capitalization of $703.86 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company’s 50 day moving average price is $227.67 and its two-hundred day moving average price is $205.39. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. As a group, analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Tesla 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.