Franchise Capital Ltd Has $3.32 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Franchise Capital Ltd raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,815 shares of the electric vehicle producer's stock after buying an additional 2,135 shares during the period. Tesla comprises approximately 1.9% of Franchise Capital Ltd's holdings, making the stock its 6th largest position. Franchise Capital Ltd's holdings in Tesla were worth $3,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC lifted its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla in the 4th quarter worth approximately $38,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 2.6%

NASDAQ:TSLA traded down $9.34 during mid-day trading on Friday, hitting $349.09. 122,996,137 shares of the stock traded hands, compared to its average volume of 98,157,709. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43. The firm's 50 day moving average is $286.92 and its two-hundred day moving average is $334.13.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. Argus set a $410.00 price target on shares of Tesla in a research report on Thursday, April 24th. Wedbush restated an "outperform" rating and set a $500.00 target price (up previously from $350.00) on shares of Tesla in a research note on Friday, May 23rd. Benchmark reiterated a "buy" rating and issued a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $293.97.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 91,588 shares of the firm'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 transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at $25,466,850. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock worth $320,019,942 over the last quarter. Company insiders own 20.70% of the company's stock.

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.