Virtu Financial LLC Invests $20.67 Million in Tesla, Inc. (NASDAQ:TSLA)

Virtu Financial LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 104,456 shares of the electric vehicle producer’s stock, valued at approximately $20,670,000. Tesla makes up about 1.4% of Virtu Financial LLC’s investment portfolio, making the stock its 5th biggest position.

Other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC grew its position in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Tesla by 2,101.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after acquiring an additional 1,402,443 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its position in Tesla by 60.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock valued at $501,654,000 after purchasing an additional 1,072,366 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $226.78 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. The business’s fifty day moving average price is $222.85 and its 200 day moving average price is $194.75. The stock has a market capitalization of $723.25 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, September 5th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Truist Financial restated a “hold” rating and issued a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Finally, Mizuho raised their price target on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $209.60.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Profile

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.