716 Shares in Tesla, Inc. $TSLA Purchased by Hartline Investment Corp

Key Points

• Hartline Investment Corp has purchased 716 shares of Tesla, Inc. valued at approximately $227,000, reflecting continued investment interest from hedge funds in the electric vehicle producer.
• Tesla's recent earnings report showed an EPS of $0.40, falling short of the analysts' expectations of $0.43, with a revenue decline of 11.8% year-over-year.
• The stock opened at $439.31 and has a market cap of $1.46 trillion, with significant ratings from analysts varying from "strong buy" to "hold."

Hartline Investment Corp bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 716 shares of the electric vehicle producer's stock, valued at approximately $227,000.

Other hedge funds also recently made changes to their positions in the company. Means Investment CO. Inc. lifted its position in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares in the last quarter. Siren L.L.C. purchased a new stake in shares of Tesla in the first quarter worth about $2,332,000. Zuckerman Investment Group LLC lifted its position in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new stake in Tesla during the first quarter worth approximately $594,000. Finally, Strs Ohio bought a new stake in Tesla during the first quarter worth approximately $205,495,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 2.5%

TSLA opened at $439.31 on Friday. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a P/E/G ratio of 15.41 and a beta of 2.08. The stock's 50 day moving average price is $387.54 and its 200-day moving average price is $333.25. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSLA. China Renaissance reissued a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. CICC Research boosted their price objective on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Canaccord Genuity Group boosted their price objective on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $363.54.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. Company 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.

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:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.