Richmond Investment Services LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

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

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Norges Bank bought a new position in Tesla during the fourth quarter valued at $14,420,248,000. FMR LLC boosted its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TSLA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Piper Sandler set a $400.00 price target on Tesla in a report on Tuesday, May 6th. Glj Research reiterated a "sell" rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $293.97.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction that occurred on 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 sale, the director now owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 6.9%

Shares of NASDAQ TSLA traded up $23.55 during trading hours on Tuesday, hitting $362.89. The company's stock had a trading volume of 117,469,899 shares, compared to its average volume of 97,579,869. The business has a 50-day simple moving average of $279.40 and a 200-day simple moving average of $333.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $1.17 trillion, a price-to-earnings ratio of 177.89, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 the consensus estimate 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 previous year, the firm posted $0.45 earnings per share. On average, 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.