Veracity Capital LLC Has $599,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Veracity Capital LLC boosted 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 buying 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 hedge funds and other institutional investors have also bought and sold shares of the company. Integris Wealth Management LLC raised its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. Echo Wealth Management LLC increased its position in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its position in shares of Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC increased its position in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $220.70 on Friday. The firm has a 50 day moving average of $227.67 and a 200-day moving average of $205.39. The stock has a market capitalization of $703.86 billion, a PE ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 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 $271.00.

Tesla (NASDAQ:TSLA) last issued its 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 firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last three months. 25.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. TD Cowen boosted their price target on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Guggenheim boosted their price target on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Royal Bank of Canada lifted their target price on Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $210.72.

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.