Franchise Capital Ltd Makes New $7.59 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Franchise Capital Ltd acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 29,005 shares of the electric vehicle producer’s stock, valued at approximately $7,589,000. Tesla accounts for about 2.7% of Franchise Capital Ltd’s investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors have also recently made changes to their positions in TSLA. Integris Wealth Management LLC lifted its stake in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC lifted its stake in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares during the period. Bellevue Asset Management LLC grew its position in Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after acquiring an additional 45 shares in the last quarter. Finally, Cypress Capital Group increased its stake in Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. The Goldman Sachs Group dropped their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday. Finally, Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Thursday, September 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $210.54.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 3.4 %

Shares of NASDAQ:TSLA opened at $240.66 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market cap of $767.51 billion, a P/E ratio of 61.39, a P/E/G ratio of 7.08 and a beta of 2.29. The firm has a fifty day moving average price of $223.40 and a 200 day moving average price of $200.86.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.75 EPS for the current 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.