Tesla, Inc. $TSLA Holdings Raised by First Dallas Securities Inc.

First Dallas Securities Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 80.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,240 shares of the electric vehicle producer’s stock after buying an additional 1,000 shares during the quarter. First Dallas Securities Inc.’s holdings in Tesla were worth $712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cahill Financial Advisors Inc. acquired a new stake in shares of Tesla during the second quarter worth approximately $222,000. Addison Advisors LLC boosted its stake in shares of Tesla by 8.3% during the 2nd quarter. Addison Advisors LLC now owns 982 shares of the electric vehicle producer’s stock valued at $312,000 after buying an additional 75 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of Tesla by 3.6% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 123,708 shares of the electric vehicle producer’s stock valued at $39,297,000 after acquiring an additional 4,285 shares in the last quarter. Altman Advisors Inc. increased its stake in shares of Tesla by 0.5% in the second quarter. Altman Advisors Inc. now owns 9,158 shares of the electric vehicle producer’s stock worth $2,754,000 after acquiring an additional 44 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Tesla by 6.0% during the second quarter. ProShare Advisors LLC now owns 2,506,451 shares of the electric vehicle producer’s stock worth $796,199,000 after acquiring an additional 141,295 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 3.7%

Shares of Tesla stock opened at $429.52 on Monday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $420.97 and a two-hundred day moving average price of $356.28. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research note on Wednesday, November 5th. Melius began coverage on Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price target for the company. DZ Bank restated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Finally, Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $391.08.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 120,000 shares of Tesla 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 transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last quarter. Insiders own 19.90% 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.