Franchise Capital Ltd Sells 18,325 Shares of Tesla, Inc. (NASDAQ:TSLA)

Franchise Capital Ltd cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 63.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,680 shares of the electric vehicle producer’s stock after selling 18,325 shares during the period. Tesla comprises about 2.0% of Franchise Capital Ltd’s holdings, making the stock its 7th biggest holding. Franchise Capital Ltd’s holdings in Tesla were worth $4,313,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TSLA. International Assets Investment Management LLC lifted its position in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP raised its stake in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $379.28 on Friday. The firm has a market cap of $1.22 trillion, a PE ratio of 103.91, a price-to-earnings-growth ratio of 10.80 and a beta of 2.36. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company’s 50 day moving average is $359.54 and its two-hundred day moving average is $271.59.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 514,886 shares of company stock valued at $169,393,831. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TSLA. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler lifted their price objective on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Guggenheim boosted their price objective on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $275.75.

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.