Graham Capital Management L.P. Invests $6.74 Million in Tesla, Inc. $TSLA

Key Points

• Graham Capital Management L.P. has invested approximately $6.74 million in Tesla, acquiring 26,005 shares during the first quarter.
• Several large investors, such as Eagle Capital and Brighton Jones, have also either acquired new positions or increased their stakes in Tesla, with institutional investors owning 66.20% of the company's stock.
• Tesla reported an EPS of $0.40 for the last quarter, missing analysts' estimates, while revenue decreased 11.8% year-over-year, totaling $22.50 billion.

Graham Capital Management L.P. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 26,005 shares of the electric vehicle producer's stock, valued at approximately $6,739,000.

Other hedge funds have also modified their holdings of the company. Retirement Planning Co of New England Inc. bought a new stake in Tesla during the first quarter worth approximately $332,000. Calton & Associates Inc. increased its stake in Tesla by 294.6% in the first quarter. Calton & Associates Inc. now owns 4,001 shares of the electric vehicle producer's stock worth $1,037,000 after purchasing an additional 2,987 shares during the period. Saudi Central Bank purchased a new stake in Tesla in the first quarter worth $295,000. FRG Family Wealth Advisors LLC lifted its position in shares of Tesla by 710.8% during the first quarter. FRG Family Wealth Advisors LLC now owns 4,881 shares of the electric vehicle producer's stock worth $1,265,000 after purchasing an additional 4,279 shares during the last quarter. Finally, Second Line Capital LLC boosted its stake in shares of Tesla by 8.4% during the first quarter. Second Line Capital LLC now owns 8,550 shares of the electric vehicle producer's stock valued at $2,216,000 after purchasing an additional 662 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Finally, Robert W. Baird restated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Down 1.4%

Shares of TSLA stock traded down $4.51 during trading hours on Tuesday, reaching $329.36. 58,153,823 shares of the company's stock were exchanged, compared to its average volume of 71,777,912. Tesla, Inc. has a fifty-two week low of $209.64 and a fifty-two week high of $488.54. The stock's 50 day moving average is $323.29 and its 200-day moving average is $302.39. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.38, a P/E/G ratio of 11.61 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,564 shares of company stock valued at $49,396,070 in the last three months. 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.