Ring Mountain Capital LLC Purchases 2,920 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ring Mountain Capital LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 39.2% during the 1st quarter, HoldingsChannel reports. The firm owned 10,360 shares of the electric vehicle producer’s stock after buying an additional 2,920 shares during the period. Tesla comprises about 2.0% of Ring Mountain Capital LLC’s investment portfolio, making the stock its 13th biggest position. Ring Mountain Capital LLC’s holdings in Tesla were worth $2,685,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Susquehanna Fundamental Investments LLC bought a new stake in Tesla in the fourth quarter worth $56,600,000. Means Investment CO. Inc. raised its stake in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its stake in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla during the 4th quarter valued at $8,158,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. William Blair cut Tesla from an “outperform” rating to a “market perform” rating in a research note on Monday, July 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Glj Research reissued a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Robert W. Baird reissued a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, HSBC reaffirmed a “reduce” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $300.19.

Tesla Stock Performance

Shares of Tesla stock opened at $328.57 on Friday. The company has a market capitalization of $1.06 trillion, a PE ratio of 180.55, a P/E/G ratio of 9.80 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a 50-day simple moving average of $325.64 and a two-hundred day simple moving average of $317.81. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 in the last quarter. Insiders own 20.70% of the company’s stock.

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.