Richardson Financial Services Inc. Has $778,000 Holdings in Tesla, Inc. $TSLA

Richardson Financial Services Inc. grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,587 shares of the electric vehicle producer’s stock after acquiring an additional 102 shares during the quarter. Richardson Financial Services Inc.’s holdings in Tesla were worth $778,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla in the 1st quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Amundi raised its position in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. China Renaissance reiterated a “hold” rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a report on Thursday, October 2nd. CICC Research increased their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Finally, Royal Bank Of Canada increased their price objective on shares of Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $354.67.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $413.49 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. The firm’s 50 day moving average is $375.97 and its 200-day moving average is $328.28.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business earned $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.