Hanlon Investment Management Inc. Acquires Shares of 1,015 Tesla, Inc. (NASDAQ:TSLA)

Hanlon Investment Management Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,015 shares of the electric vehicle producer’s stock, valued at approximately $201,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. Norges Bank bought a new position in shares of Tesla during the 4th quarter worth approximately $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Tesla by 0.9% during the first quarter. California State Teachers Retirement System now owns 4,611,096 shares of the electric vehicle producer’s stock worth $810,585,000 after acquiring an additional 41,498 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $210.73 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $673.21 billion, a P/E ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. The stock has a 50-day moving average price of $224.47 and a 200-day moving average price of $193.60. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 25.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research note on Monday, August 19th. Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Argus reiterated a “buy” rating and issued a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. HSBC increased their target price on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Finally, William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Nine research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $204.21.

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.