J Hagan Capital Inc. Acquires New Shares in Tesla, Inc. (NASDAQ:TSLA)

J Hagan Capital Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the first quarter, Holdings Channel reports. The institutional investor acquired 1,144 shares of the electric vehicle producer’s stock, valued at approximately $296,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in Tesla by 79.5% in 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 during the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its position in shares of Tesla by 193.3% during the fourth 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 period. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter worth about $38,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $303.00 price target on shares of Tesla in a research report on Monday, June 30th. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Roth Mkm dropped their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley reissued an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Finally, Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $301.60.

Tesla Stock Down 0.7%

TSLA stock opened at $313.56 on Monday. The business’s 50 day simple moving average is $320.93 and its 200 day simple moving average is $324.35. The firm has a market capitalization of $1.01 trillion, a PE ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,509 shares of company stock worth $277,648,925 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

About Tesla

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.