Versant Capital Management Inc Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Versant Capital Management Inc grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 24.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,892 shares of the electric vehicle producer’s stock after buying an additional 767 shares during the period. Versant Capital Management Inc’s holdings in Tesla were worth $1,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter valued at approximately $29,000. Clean Yield Group boosted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter worth approximately $35,000. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,886 shares of company stock worth $169,393,831 over the last quarter. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TSLA shares. Royal Bank of Canada boosted their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Piper Sandler boosted their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $275.75.

Tesla Stock Performance

TSLA opened at $379.28 on Friday. 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 $488.54. The firm has a 50 day moving average of $359.54 and a two-hundred day moving average of $271.59. The firm has a market capitalization of $1.22 trillion, a PE ratio of 103.91, a P/E/G ratio of 10.80 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate 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.