Tesla, Inc. $TSLA Shares Acquired by Hodges Capital Management Inc.

Hodges Capital Management Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 58.8% in the first quarter, Holdings Channel reports. The firm owned 3,178 shares of the electric vehicle producer’s stock after purchasing an additional 1,177 shares during the quarter. Hodges Capital Management Inc.’s holdings in Tesla were worth $824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank boosted its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Pacific Center for Financial Services boosted its stake in Tesla by 1,616.7% in the fourth quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock valued at $42,000 after acquiring an additional 97 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter valued at approximately $27,000. Finally, Newton One Investments LLC boosted 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 valued at $27,000 after acquiring an additional 75 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $395.94 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06. The stock’s 50 day moving average price is $328.89 and its 200 day moving average price is $303.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. William Blair restated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, July 24th. HSBC reaffirmed a “reduce” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. China Renaissance reaffirmed a “hold” rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Finally, Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $303.00.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director 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 filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,606 shares of company stock valued at $51,999,662 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Company 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.