Hodges Capital Management Inc. Acquires 30,878 Shares of Tesla, Inc. $TSLA

Hodges Capital Management Inc. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 971.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,056 shares of the electric vehicle producer’s stock after buying an additional 30,878 shares during the quarter. Tesla comprises 1.0% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 27th largest holding. Hodges Capital Management Inc.’s holdings in Tesla were worth $10,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla during the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Amundi raised its holdings in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSLA. Piper Sandler boosted their price objective on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. The Goldman Sachs Group lowered their price target on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Tesla in a report on Thursday, October 23rd. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Truist Financial increased their price target on shares of Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eleven have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $391.08.

Tesla Trading Down 3.7%

Shares of TSLA stock opened at $429.52 on Monday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 286.35, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $420.97 and a 200 day moving average price of $356.28.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.