Verdence Capital Advisors LLC Has $6.14 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Verdence Capital Advisors LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,215 shares of the electric vehicle producer’s stock after acquiring an additional 883 shares during the period. Verdence Capital Advisors LLC’s holdings in Tesla were worth $6,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Hengehold Capital Management LLC lifted its position in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the last quarter. Strategic Investment Advisors MI lifted its position in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC lifted its position in Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its position in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC lifted its position in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 2.6 %

Shares of NASDAQ TSLA opened at $279.10 on Thursday. The company’s 50 day simple moving average is $374.97 and its 200 day simple moving average is $318.13. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $897.73 billion, a P/E ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $315.33.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. This trade represents a 20.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,386 shares of company stock worth $153,916,675. Company insiders own 20.70% of the company’s stock.

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.