Bridgeway Capital Management LLC Purchases 5,984 Shares of Tesla, Inc. $TSLA

Bridgeway Capital Management LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,289 shares of the electric vehicle producer’s stock after acquiring an additional 5,984 shares during the quarter. Tesla accounts for approximately 0.5% of Bridgeway Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. Bridgeway Capital Management LLC’s holdings in Tesla were worth $20,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC raised its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter worth $27,000. Finally, Centennial Bank AR boosted its position in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. UBS Group set a $290.00 price target on Tesla in a research report on Monday, June 30th. Benchmark reiterated a “buy” rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Canaccord Genuity Group raised their price target on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. China Renaissance reaffirmed a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Finally, Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $303.31.

Tesla Stock Down 1.4%

NASDAQ:TSLA opened at $329.36 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $209.64 and a twelve month high of $488.54. The company has a market cap of $1.06 trillion, a PE ratio of 190.38, a P/E/G ratio of 11.61 and a beta of 2.06. The company’s 50 day moving average is $323.07 and its two-hundred day moving average is $302.58.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,564 shares of company stock valued at $49,396,070. 20.70% of the stock is owned by company insiders.

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.