Richmond Investment Services LLC Invests $705,000 in Tesla, Inc. (NASDAQ:TSLA)

Richmond Investment Services LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,746 shares of the electric vehicle producer's stock, valued at approximately $705,000.

A number of other large investors have also bought and sold shares of the business. Hengehold Capital Management LLC grew its holdings in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock worth $544,000 after purchasing an additional 24 shares in the last quarter. Strategic Investment Advisors MI increased its holdings in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after purchasing an additional 24 shares in the last quarter. Vista Finance LLC grew its stake in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after acquiring an additional 25 shares during the period. Prospect Financial Services LLC raised its holdings in shares of Tesla by 0.3% in the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock worth $3,029,000 after acquiring an additional 26 shares during the last quarter. Finally, Jmac Enterprises LLC lifted its position in shares of Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock valued at $1,569,000 after purchasing an additional 26 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 0.4%

Shares of NASDAQ:TSLA traded down $1.48 during midday trading on Wednesday, reaching $361.41. The company's stock had a trading volume of 50,567,857 shares, compared to its average volume of 97,411,663. The business has a 50 day moving average price of $281.93 and a 200 day moving average price of $333.59. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.16 trillion, a price-to-earnings ratio of 177.35, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the company posted $0.45 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on TSLA shares. HSBC lowered their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. Barclays reduced 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. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Roth Mkm dropped their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $293.97.

Insider Buying and Selling at Tesla

In other news, 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 transaction of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is owned by corporate insiders.

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.