Franchise Capital Ltd Invests $7.59 Million in Tesla, Inc. (NASDAQ:TSLA)

Franchise Capital Ltd acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,005 shares of the electric vehicle producer’s stock, valued at approximately $7,589,000. Tesla makes up 2.7% of Franchise Capital Ltd’s investment portfolio, making the stock its 5th largest position.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR boosted its position in shares of Tesla by 11.0% in the fourth quarter. Stephens Inc. AR now owns 37,478 shares of the electric vehicle producer’s stock worth $9,313,000 after purchasing an additional 3,717 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Tesla by 1.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 796,687 shares of the electric vehicle producer’s stock worth $197,961,000 after buying an additional 14,086 shares during the period. Morningstar Investment Services LLC raised its holdings in Tesla by 117.4% during the fourth quarter. Morningstar Investment Services LLC now owns 9,156 shares of the electric vehicle producer’s stock valued at $2,318,000 after acquiring an additional 4,945 shares during the period. Epoch Investment Partners Inc. lifted its position in shares of Tesla by 65.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 225,315 shares of the electric vehicle producer’s stock valued at $55,986,000 after acquiring an additional 89,390 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Tesla by 19.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 7,388 shares of the electric vehicle producer’s stock worth $1,836,000 after acquiring an additional 1,179 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, September 26th. Barclays lowered their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. Finally, New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $210.54.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Down 3.4 %

NASDAQ:TSLA opened at $240.66 on Friday. The stock has a fifty day simple moving average of $223.40 and a 200-day simple moving average of $200.86. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market cap of $767.51 billion, a price-to-earnings ratio of 61.39, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the firm earned $0.78 earnings per share. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

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.