Richardson Financial Services Inc. Has $1.05 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Richardson Financial Services Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,511 shares of the electric vehicle producer’s stock after purchasing an additional 321 shares during the period. Richardson Financial Services Inc.’s holdings in Tesla were worth $1,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at about $29,000. Clean Yield Group grew its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Tesla by 692.6% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock worth $56,000 after acquiring an additional 187 shares during the last quarter. Finally, Mendota Financial Group LLC bought a new stake in shares of Tesla during the third quarter worth approximately $64,000. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Jefferies Financial Group boosted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $318.31.

Tesla Stock Performance

NASDAQ:TSLA opened at $378.17 on Thursday. The stock’s 50-day moving average is $406.20 and its 200-day moving average is $301.73. The stock has a market cap of $1.22 trillion, a P/E ratio of 185.38, a price-to-earnings-growth ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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%. Equities research analysts anticipate that Tesla, Inc. will post 2.82 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 672,776 shares of company stock valued at $242,149,822 in the last three months. Insiders own 20.70% of the company’s stock.

About Tesla

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.