Riggs Capital Management LLC Invests $465,000 in Tesla, Inc. (NASDAQ:TSLA)

Riggs Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,152 shares of the electric vehicle producer's stock, valued at approximately $465,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. World Investment Advisors LLC raised its position in Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock valued at $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management increased its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its position in Tesla by 126.7% in the fourth 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. MML Investors Services LLC grew its stake in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after buying an additional 9,919 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently commented on the stock. Robert W. Baird decreased their price target on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They set a "buy" rating and a $475.00 price objective on the stock. Finally, New Street Research raised Tesla from a "neutral" rating to a "buy" rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $317.75.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of Tesla stock traded up $9.30 during trading on Tuesday, hitting $268.46. 145,757,545 shares of the company's stock were exchanged, compared to its average volume of 93,639,188. The business has a 50-day simple moving average of $317.98 and a 200-day simple moving average of $323.21. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $863.51 billion, a price-to-earnings ratio of 131.60, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.