Variant Private Wealth LLC Invests $2.70 Million in Tesla, Inc. (NASDAQ:TSLA)

Variant Private Wealth LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 6,683 shares of the electric vehicle producer’s stock, valued at approximately $2,699,000. Tesla accounts for approximately 2.6% of Variant Private Wealth LLC’s investment portfolio, making the stock its 15th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter valued at $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla during the 4th quarter valued at about $46,000. PayPay Securities Corp grew its holdings in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSLA. Mizuho reiterated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Tuesday, February 18th. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $319.57.

Tesla Trading Down 2.2 %

NASDAQ:TSLA opened at $330.53 on Tuesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $397.52 and a 200-day moving average price of $314.96. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 162.03, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted 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%. Equities analysts predict that Tesla, Inc. will post 2.56 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.