Verus Wealth Management LLC Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

Verus Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 880 shares of the electric vehicle producer’s stock, valued at approximately $355,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at $29,000. Clean Yield Group grew its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. purchased a new stake in Tesla in the 3rd quarter worth about $35,000. Finley Financial LLC bought a new stake in Tesla in the 4th quarter valued at about $64,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $404.60 on Friday. 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 stock has a market cap of $1.30 trillion, a PE ratio of 198.33, a PEG ratio of 8.08 and a beta of 2.30. The company’s fifty day moving average is $404.22 and its 200 day moving average is $299.05. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%. Research analysts anticipate that Tesla, Inc. will post 2.82 earnings per share for the current year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 553,386 shares of company stock valued at $196,305,796. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $440.00 target price on shares of Tesla in a research note on Thursday. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Barclays raised their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Canaccord Genuity Group increased their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $318.31.

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.