Tesla, Inc. (NASDAQ:TSLA) Stock Position Raised by Franchise Capital Ltd

Franchise Capital Ltd grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,815 shares of the electric vehicle producer’s stock after buying an additional 2,135 shares during the quarter. Tesla accounts for about 1.9% of Franchise Capital Ltd’s investment portfolio, making the stock its 6th largest holding. Franchise Capital Ltd’s holdings in Tesla were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new position in shares of Tesla in the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 4th quarter valued at about $38,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,395 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock worth $116,650,831 over the last 90 days. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Mizuho increased their target price on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Wall Street Zen cut Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $293.97.

Tesla Price Performance

Tesla stock opened at $356.90 on Thursday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s 50 day simple moving average is $284.09 and its 200-day simple moving average is $333.75. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 174.95, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share 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.