RD Finance Ltd Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

RD Finance Ltd acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,413 shares of the electric vehicle producer’s stock, valued at approximately $625,000. Tesla accounts for approximately 0.5% of RD Finance Ltd’s investment portfolio, making the stock its 27th largest position.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC increased its position in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the period. FMR LLC increased its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. Northern Trust Corp increased its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock worth $9,908,828,000 after buying an additional 158,697 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Tesla by 19.8% in the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer’s stock worth $5,294,010,000 after buying an additional 2,170,449 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSLA shares. JPMorgan Chase & Co. cut their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 23rd. Royal Bank Of Canada cut their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. HSBC restated a “reduce” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Roth Mkm cut their target price on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $302.75.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 723,119 shares of company stock worth $247,324,149. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.0%

NASDAQ TSLA opened at $325.59 on Tuesday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The stock has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 188.20, a PEG ratio of 9.93 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock’s 50 day moving average price is $324.37 and its two-hundred day moving average price is $313.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.