Ring Mountain Capital LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Ring Mountain Capital LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 7,440 shares of the electric vehicle producer’s stock, valued at approximately $3,005,000. Tesla makes up about 2.0% of Ring Mountain Capital LLC’s portfolio, making the stock its 15th largest holding.

Other institutional investors have also recently bought and sold shares of the company. World Investment Advisors LLC raised its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the last quarter. Destination Wealth Management raised its holdings in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its stake in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares in the last quarter. Vinva Investment Management Ltd grew its stake in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after acquiring an additional 9,919 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Stifel Nicolaus reduced their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Wedbush set a $302.80 target price on shares of Tesla in a research note on Wednesday, February 26th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research note on Monday. Finally, Morgan Stanley reiterated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research note on Monday. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $315.33.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,996 shares of company stock valued at $118,467,387. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 4.4 %

Shares of Tesla stock opened at $272.11 on Wednesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $875.24 billion, a price-to-earnings ratio of 133.39, a PEG ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $378.63 and its 200-day moving average price is $318.40.

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 analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.