Virtue Capital Management LLC Sells 710 Shares of Tesla, Inc. (NASDAQ:TSLA)

Virtue Capital Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,777 shares of the electric vehicle producer’s stock after selling 710 shares during the quarter. Virtue Capital Management LLC’s holdings in Tesla were worth $988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Connable Office Inc. lifted its holdings in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the last quarter. Community Bank N.A. lifted its holdings in shares of Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after acquiring an additional 38 shares during the last quarter. Holistic Financial Partners lifted its holdings in shares of Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after acquiring an additional 40 shares during the last quarter. Integris Wealth Management LLC lifted its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc lifted its holdings in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. Morgan Stanley boosted their price objective on shares of Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Wolfe Research started coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, UBS Group upped their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday, November 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $254.48.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on 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 $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 522,886 shares of company stock worth $171,393,831. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $400.99 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 109.86, a P/E/G ratio of 12.64 and a beta of 2.36. The company’s 50-day simple moving average is $288.09 and its two-hundred day simple moving average is $240.67. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $409.73.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business 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%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. As a group, analysts predict that Tesla, Inc. will post 1.99 EPS 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.