Franchise Capital Ltd Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Franchise Capital Ltd increased its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 24.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,010 shares of the electric vehicle producer’s stock after acquiring an additional 2,532 shares during the quarter. Tesla comprises about 2.9% of Franchise Capital Ltd’s investment portfolio, making the stock its 8th biggest position. Franchise Capital Ltd’s holdings in Tesla were worth $8,761,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Edgestream Partners L.P. raised its holdings in Tesla by 286.9% in the 2nd quarter. Edgestream Partners L.P. now owns 13,333 shares of the electric vehicle producer’s stock worth $8,979,000 after acquiring an additional 9,887 shares during the period. Main Street Research LLC raised its holdings in Tesla by 1.1% in the 2nd quarter. Main Street Research LLC now owns 4,582 shares of the electric vehicle producer’s stock worth $3,086,000 after acquiring an additional 52 shares during the period. Financial Partners Group Inc raised its holdings in Tesla by 39.3% in the 2nd quarter. Financial Partners Group Inc now owns 493 shares of the electric vehicle producer’s stock worth $332,000 after acquiring an additional 139 shares during the period. HCR Wealth Advisors raised its holdings in Tesla by 9.5% in the 2nd quarter. HCR Wealth Advisors now owns 4,569 shares of the electric vehicle producer’s stock worth $3,077,000 after acquiring an additional 395 shares during the period. Finally, Financial Advocates Investment Management raised its holdings in Tesla by 0.4% in the 2nd quarter. Financial Advocates Investment Management now owns 12,015 shares of the electric vehicle producer’s stock worth $8,091,000 after acquiring an additional 42 shares during the period. Institutional investors own 43.01% of the company’s stock.

Tesla Trading Up 7.8 %

Shares of TSLA stock opened at $183.20 on Thursday. Tesla, Inc. has a 12-month low of $166.18 and a 12-month high of $402.67. The company has a market capitalization of $578.50 billion, a P/E ratio of 56.60, a P/E/G ratio of 1.50 and a beta of 1.97. The firm has a 50-day moving average price of $231.28 and a 200 day moving average price of $249.33. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.14. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The firm had revenue of $21.45 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 55.9% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 3.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Daiwa Capital Markets dropped their target price on shares of Tesla to $240.00 in a report on Thursday, October 27th. Roth Capital raised their price target on shares of Tesla from $83.33 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, October 20th. Argus restated a “buy” rating and issued a $374.00 price target on shares of Tesla in a research report on Friday, August 26th. StockNews.com began coverage on shares of Tesla in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Citigroup upgraded shares of Tesla from a “sell” rating to a “neutral” rating and raised their price target for the stock from $141.33 to $176.00 in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $278.43.

Insiders Place Their Bets

In other Tesla news, CEO Elon Musk sold 4,400,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $191.63, for a total value of $843,172,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,617,432 shares of the company’s stock, valued at $85,393,668,494.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tesla news, CEO Elon Musk sold 4,400,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $191.63, for a total value of $843,172,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,617,432 shares of the company’s stock, valued at $85,393,668,494.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 26,250 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $278.93, for a total transaction of $7,321,912.50. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,506,222. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,119,001 shares of company stock valued at $2,874,560,178. Insiders own 25.10% of the company’s stock.

Tesla Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAGet Rating).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.