Riggs Asset Managment Co. Inc. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Riggs Asset Managment Co. Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,545 shares of the electric vehicle producer’s stock after purchasing an additional 28 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Tesla were worth $2,315,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TSLA. Round Rock Advisors LLC raised its position in shares of Tesla by 11.6% during the 4th quarter. Round Rock Advisors LLC now owns 6,403 shares of the electric vehicle producer’s stock valued at $2,586,000 after buying an additional 666 shares during the period. Sutton Place Investors LLC raised its position in shares of Tesla by 19.1% during the 4th quarter. Sutton Place Investors LLC now owns 2,348 shares of the electric vehicle producer’s stock valued at $948,000 after buying an additional 376 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in shares of Tesla by 157.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 20,296 shares of the electric vehicle producer’s stock valued at $8,196,000 after buying an additional 12,416 shares during the period. Greenleaf Trust raised its position in shares of Tesla by 9.8% during the 4th quarter. Greenleaf Trust now owns 57,751 shares of the electric vehicle producer’s stock valued at $23,322,000 after buying an additional 5,149 shares during the period. Finally, Dougherty Wealth Advisers LLC purchased a new stake in shares of Tesla during the 4th quarter valued at approximately $222,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $378.17 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market capitalization of $1.22 trillion, a PE ratio of 185.38, a P/E/G ratio of 6.79 and a beta of 2.34. The company has a fifty day moving average of $406.20 and a two-hundred day moving average of $301.73.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts expect that Tesla, Inc. will post 2.82 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, January 30th. Mizuho reiterated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a report on Thursday, January 30th. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, January 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $318.31.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 672,776 shares of company stock worth $242,149,822 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.