Hoge Financial Services LLC Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Hoge Financial Services LLC has made a new investment in Tesla, acquiring 899 shares valued at approximately $285,000 during the second quarter.
• Despite varying recommendations, Tesla's stock has received predominantly positive ratings from analysts, with a consensus rating of "Hold" and an average price target of $375.50.
• Tesla reported a quarterly earnings of $0.50 EPS, surpassing estimates, with revenue of $28.10 billion, showcasing an 11.6% increase year-over-year.

Hoge Financial Services LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 899 shares of the electric vehicle producer's stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KPP Advisory Services LLC lifted its position in Tesla by 34.7% in the second quarter. KPP Advisory Services LLC now owns 32,898 shares of the electric vehicle producer's stock worth $10,450,000 after purchasing an additional 8,468 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Tesla by 25.3% during the second quarter. First Citizens Bank & Trust Co. now owns 63,113 shares of the electric vehicle producer's stock valued at $20,048,000 after acquiring an additional 12,754 shares during the period. Cornerstone Advisory LLC boosted its stake in Tesla by 14.6% in the 2nd quarter. Cornerstone Advisory LLC now owns 2,507 shares of the electric vehicle producer's stock worth $796,000 after purchasing an additional 319 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Tesla by 6.6% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 2,189 shares of the electric vehicle producer's stock valued at $695,000 after purchasing an additional 135 shares during the period. Finally, Paragon Advisors LLC lifted its holdings in shares of Tesla by 75.0% in the second quarter. Paragon Advisors LLC now owns 9,051 shares of the electric vehicle producer's stock valued at $2,875,000 after purchasing an additional 3,878 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of Tesla stock opened at $416.63 on Thursday. The stock has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 242.80, a P/E/G ratio of 15.91 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm's 50-day moving average price is $393.73 and its two-hundred day moving average price is $336.97. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts' expectations of $24.98 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. HSBC upped their price objective on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Cantor Fitzgerald set a $510.00 target price on Tesla in a research note on Thursday. Royal Bank Of Canada raised their price target on Tesla from $325.00 to $500.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. CICC Research raised their price objective on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. Finally, Roth Capital set a $505.00 price objective on shares of Tesla and gave the stock a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $375.50.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% 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, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

About Tesla

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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