Riggs Capital Management LLC Purchases Shares of 1,152 Tesla, Inc. (NASDAQ:TSLA)

Riggs Capital Management LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,152 shares of the electric vehicle producer’s stock, valued at approximately $465,000.

A number of other large investors have also added to or reduced their stakes in TSLA. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. grew its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter worth approximately $38,000. Delos Wealth Advisors LLC grew its position in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in shares of Tesla during the 4th quarter valued at about $44,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 3.5 %

NASDAQ TSLA opened at $263.55 on Monday. The company has a market cap of $847.71 billion, a PE ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. 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 stock has a 50 day moving average of $321.33 and a 200-day moving average of $323.01. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Stifel Nicolaus lowered their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $318.34.

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.