Richardson Capital Management LLC Has $119,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Richardson Capital Management LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 41.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 456 shares of the electric vehicle producer’s stock after purchasing an additional 134 shares during the period. Richardson Capital Management LLC’s holdings in Tesla were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter valued at about $29,000. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter worth about $25,000. Clean Yield Group raised its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $328.49 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market capitalization of $1.05 trillion, a PE ratio of 90.00, a P/E/G ratio of 11.37 and a beta of 2.29. The company’s 50 day simple moving average is $243.90 and its two-hundred day simple moving average is $217.03.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSLA. Barclays upped their target price on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Jefferies Financial Group upped their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, October 21st. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. William Blair started coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Canaccord Genuity Group upped their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $225.06.

Read Our Latest Report on Tesla

About Tesla

(Free Report)

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.

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