1,831 Tesla, Inc. $TSLA Shares Sold by Venture Visionary Partners LLC
by Renee Jackson · The Cerbat GemVenture Visionary Partners LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 48,026 shares of the electric vehicle producer’s stock after selling 1,831 shares during the quarter. Venture Visionary Partners LLC’s holdings in Tesla were worth $17,040,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC increased its stake in shares of Tesla by 3,205.5% in the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock worth $9,650,811,000 after purchasing an additional 20,810,386 shares in the last quarter. Legal & General Group Plc bought a new position in Tesla in the 2nd quarter worth $8,535,612,000. Bank of New York Mellon Corp purchased a new stake in Tesla in the 2nd quarter worth $6,083,630,000. Deutsche Bank AG bought a new stake in Tesla during the second quarter valued at about $4,039,090,000. Finally, Canada Pension Plan Investment Board bought a new stake in Tesla during the second quarter valued at about $3,144,509,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Tesla Price Performance
Shares of NASDAQ:TSLA traded down $2.93 on Wednesday, reaching $377.75. The company’s stock had a trading volume of 25,516,788 shares, compared to its average volume of 51,476,348. The company has a 50-day simple moving average of $352.86 and a 200 day simple moving average of $377.14. Tesla, Inc. has a 52-week low of $297.38 and a 52-week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 1.94. The company has a market cap of $1.49 trillion, a P/E ratio of 349.77, a PEG ratio of 20.23 and a beta of 1.92.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). The business had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm’s revenue was up 25.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 0.83 EPS for the current fiscal year.
Tesla News Roundup
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Germany’s transport minister backed faster approval of Tesla’s supervised FSD system across the European Union, potentially expanding Tesla’s addressable software and autonomous-driving market. However, the broader EU decision has been delayed. Reuters article
- Positive Sentiment: IMC Logistics ordered 50 Tesla Semis for California port-dr अनुरage and regional freight routes. The order provides commercial validation for Tesla’s electric-truck strategy, although financial terms and delivery timing were not disclosed. Tesla Semi order article
- Positive Sentiment: UBS raised its Tesla price target to $391 from $385 while maintaining a Buy rating, citing a tactically favorable risk/reward setup after the recent selloff. UBS price-target article
- Positive Sentiment: Tesla’s third-quarter deliveries reportedly exceeded expectations by about 25,000 vehicles, reinforcing the view that demand may be stabilizing ahead of the company’s October 21 earnings report. Investors are also focused on robotaxi and FSD commercialization. Tesla delivery article
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on TSLA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 23rd. Stifel Nicolaus set a $491.00 price target on Tesla and gave the stock a “buy” rating in a report on Monday, August 3rd. Mizuho set a $450.00 price objective on shares of Tesla and gave the company an “outperform” rating in a report on Thursday, July 23rd. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Monday, September 21st. Finally, The Goldman Sachs Group raised shares of Tesla from a “neutral” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $412.19.
Check Out Our Latest Report on TSLA
Insider Activity
In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total value of $938,498.78. Following the completion of the sale, the chief financial officer directly owned 25,972 shares of the company’s stock, valued at $9,353,296.36. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is owned by insiders.
Tesla Company Profile
Tesla, Inc (NASDAQ:TSLA) designs, manufactures and sells electric vehicles, energy storage systems and solar energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y, Cybertruck and Tesla Semi. The company also develops vehicle software and driver-assistance features, operates a global Supercharger network and provides related vehicle services.
Tesla’s energy business offers battery storage products for residential, commercial and utility customers, including Powerwall and Megapack, as well as solar panels and solar roofing products.
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