Hartline Investment Corp Makes New $227,000 Investment in Tesla, Inc. $TSLA

Hartline Investment Corp bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 716 shares of the electric vehicle producer’s stock, valued at approximately $227,000.

A number of other hedge funds also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank lifted its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter worth $27,000. Chelsea Counsel Co. lifted its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Finally, Centennial Bank AR lifted its holdings in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America increased their price objective on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. China Renaissance reiterated a “hold” rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Royal Bank Of Canada increased their price objective on Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Finally, Piper Sandler increased their price objective on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $363.54.

Tesla Price Performance

NASDAQ TSLA opened at $439.31 on Friday. 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 fifty day moving average price is $387.54 and its 200 day moving average price is $333.25. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 6.54% and a return on equity of 7.98%. Tesla’s revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents 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 have sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla 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.