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

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the first quarter valued at $27,000. Finally, Chelsea Counsel Co. increased its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Benchmark reissued a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 target price on shares of Tesla in a research report on Friday, October 3rd. Canaccord Genuity Group boosted their target price on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Finally, UBS Group set a $247.00 target price on shares of Tesla in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $354.67.

Tesla Trading Down 5.1%

TSLA opened at $413.49 on Monday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a 50-day simple moving average of $375.97 and a 200 day simple moving average of $328.28. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 239.01, a P/E/G ratio of 14.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company earned $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by company insiders.

Tesla Company 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.