Veery Capital LLC Sells 212 Shares of Tesla, Inc. (NASDAQ:TSLA)

Veery Capital LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.0% in the third quarter, Holdings Channel reports. The institutional investor owned 1,307 shares of the electric vehicle producer’s stock after selling 212 shares during the period. Veery Capital LLC’s holdings in Tesla were worth $342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its position in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management increased its stake in Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the last quarter. Savvy Advisors Inc. lifted its position in shares of Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after buying an additional 1,467 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Tesla by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after buying an additional 3,909 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 3.1 %

Shares of NASDAQ TSLA opened at $320.72 on Friday. The business has a 50-day moving average of $252.30 and a 200-day moving average of $220.72. The firm has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value 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. The trade was a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 over the last 90 days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Bank of America increased their price target on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $230.18.

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.