Richmond Investment Services LLC Buys New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Richmond Investment Services LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,746 shares of the electric vehicle producer’s stock, valued at approximately $705,000.

Other institutional investors also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla during the 4th quarter valued at about $56,600,000. Stephens Consulting LLC grew its position in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. grew its position in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after buying an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. bought a new position in shares of Tesla during the fourth quarter valued at approximately $8,158,000. Finally, Vontobel Holding Ltd. raised its holdings in shares of Tesla by 23.0% during the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after acquiring an additional 60,342 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Wall Street Zen downgraded Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Glj Research restated a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $293.97.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $339.34 on Friday. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a fifty day moving average price of $277.33 and a 200-day moving average price of $332.69. The company has a market capitalization of $1.09 trillion, a PE ratio of 166.34, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the business earned $0.45 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the sale, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at $6,833,325.68. This trade represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock valued at $116,650,831 over the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla 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.