Dagco Inc. Invests $362,000 in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Dagco Inc. has invested approximately $362,000 in Tesla, Inc. by acquiring 1,396 shares in the first quarter of the year.
• Tesla reported a missed earnings estimate of $0.40 per share, compared to the consensus estimate of $0.43, and its revenue of $22.50 billion also fell short of expectations.
• The stock is reported as having an average rating of "Hold" from analysts, with a price target averaging $303.31 per share.

Dagco Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,396 shares of the electric vehicle producer's stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the fourth quarter valued at $56,600,000. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its stake in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla during the fourth quarter valued at $8,158,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA opened at $340.84 on Wednesday. Tesla, Inc. has a 52-week low of $197.06 and a 52-week high of $488.54. The firm has a market capitalization of $1.10 trillion, a PE ratio of 197.02, a PEG ratio of 11.79 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business's 50-day simple moving average is $318.54 and its 200 day simple moving average is $306.48.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $303.31.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock worth $214,176,831 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.

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