Tesla, Inc. $TSLA Shares Bought by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. increased its stake in Tesla by 58.8% in the first quarter, owning 3,178 shares worth approximately $824,000 after acquiring an additional 1,177 shares.
• Tesla reported $0.40 earnings per share for the last quarter, missing analysts' expectations of $0.43, with a revenue of $22.50 billion, down 11.8% year-over-year.
• Insiders at Tesla have recently sold a total of 148,606 shares worth approximately $52 million, indicating a shift in insider confidence.

Hodges Capital Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,178 shares of the electric vehicle producer's stock after purchasing an additional 1,177 shares during the period. Hodges Capital Management Inc.'s holdings in Tesla were worth $824,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at $346,000. Highview Capital Management LLC DE acquired a new stake in shares of Tesla in the fourth quarter valued at $2,367,000. Finally, Bison Wealth LLC grew its stake in shares of Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

TSLA opened at $395.94 on Friday. The stock has a market cap of $1.28 trillion, a P/E ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock's 50 day simple moving average is $328.89 and its 200 day simple moving average is $303.48. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates 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 prior year, the company earned $0.52 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Mizuho lowered their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. William Blair reissued a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Finally, Bank of America boosted their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $303.00.

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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