RD Finance Ltd Acquires New Shares in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• RD Finance Ltd has acquired 2,413 shares of Tesla, valued at approximately $625,000, making it the 27th largest position in their portfolio.
• Several institutional investors have increased their stakes in Tesla during the fourth quarter, contributing to institutional ownership reaching 66.20% of the company's stock.
• Despite missing earnings expectations, Tesla has a current market cap of $1.05 trillion, with share price volatility reflected in a one-year low of $182.00 and a high of $488.54.

RD Finance Ltd purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,413 shares of the electric vehicle producer's stock, valued at approximately $625,000. Tesla accounts for about 0.5% of RD Finance Ltd's holdings, making the stock its 27th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FSA Advisors Inc. boosted its position in shares of Tesla by 22.2% during the 1st quarter. FSA Advisors Inc. now owns 898 shares of the electric vehicle producer's stock valued at $233,000 after purchasing an additional 163 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Tesla by 1.0% during the 1st quarter. Federated Hermes Inc. now owns 320,710 shares of the electric vehicle producer's stock valued at $83,115,000 after purchasing an additional 3,060 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Tesla by 94.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 38,466 shares of the electric vehicle producer's stock valued at $9,969,000 after purchasing an additional 18,663 shares in the last quarter. Cozad Asset Management Inc. boosted its holdings in Tesla by 15.8% in the first quarter. Cozad Asset Management Inc. now owns 5,340 shares of the electric vehicle producer's stock worth $1,384,000 after acquiring an additional 729 shares in the last quarter. Finally, Creekside Partners boosted its holdings in Tesla by 11.9% in the first quarter. Creekside Partners now owns 2,692 shares of the electric vehicle producer's stock worth $698,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday. Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. UBS Group set a $290.00 price target on Tesla in a report on Monday, June 30th. Finally, HSBC reiterated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $303.31.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

NASDAQ:TSLA traded down $5.53 during trading hours on Friday, hitting $302.74. 78,471,886 shares of the company's stock traded hands, compared to its average volume of 107,820,586. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business's fifty day simple moving average is $322.96 and its two-hundred day simple moving average is $312.48. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The firm has a market cap of $976.47 billion, a P/E ratio of 174.82, a P/E/G ratio of 11.21 and a beta of 2.39.

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

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.