Virtue Capital Management LLC Has $988,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Connable Office Inc. boosted its holdings in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the period. Community Bank N.A. lifted its stake in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners lifted its stake in Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the last quarter. Integris Wealth Management LLC increased 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 acquiring an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc increased its position in 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 valued at $800,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,886 shares of company stock valued at $171,393,831. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TSLA shares. Morgan Stanley increased their price objective on shares of Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $254.48.

Tesla Price Performance

TSLA opened at $400.99 on Wednesday. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 109.86, a PEG ratio of 12.64 and a beta of 2.36. 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 firm has a 50-day moving average price of $288.09 and a 200-day moving average price of $240.67. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $409.73.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during 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%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Equities analysts expect 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.