Grange Capital LLC Acquires 229 Shares of Tesla, Inc. (NASDAQ:TSLA)

Grange Capital LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,784 shares of the electric vehicle producer’s stock after purchasing an additional 229 shares during the quarter. Grange Capital LLC’s holdings in Tesla were worth $462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. increased its stake 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 worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla in the fourth quarter valued at approximately $38,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $316.90 on Tuesday. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 174.12, a PEG ratio of 9.33 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company’s 50 day simple moving average is $323.33 and its 200 day simple moving average is $318.52.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. HSBC restated a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $300.19.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. Corporate 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.