Richardson Financial Services Inc. Invests $392,000 in Tesla, Inc. (NASDAQ:TSLA)

Richardson Financial Services Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,579 shares of the electric vehicle producer’s stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Vanguard Group Inc. increased its holdings in Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after purchasing an additional 3,453,078 shares in the last quarter. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at $7,844,757,000. Morgan Stanley increased its holdings in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Northern Trust Corp increased its holdings in Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after buying an additional 458,804 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock valued at $19,285,643 over the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA traded down $4.46 during mid-day trading on Friday, reaching $178.01. 82,038,194 shares of the company’s stock traded hands, compared to its average volume of 68,882,416. The business’s 50-day moving average price is $172.90 and its 200-day moving average price is $194.98. The stock has a market capitalization of $567.71 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 4.41 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TSLA shares. Canaccord Genuity Group decreased their price objective on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. UBS Group decreased their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. HSBC decreased their price objective on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday, April 24th. China Renaissance assumed coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $185.90.

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.