Ring Mountain Capital LLC Invests $3.01 Million in Tesla, Inc. (NASDAQ:TSLA)

Ring Mountain Capital LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,440 shares of the electric vehicle producer’s stock, valued at approximately $3,005,000. Tesla makes up approximately 2.0% of Ring Mountain Capital LLC’s investment portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Kapstone Financial Advisors LLC raised its stake in Tesla by 4.9% in the 4th quarter. Kapstone Financial Advisors LLC now owns 2,174 shares of the electric vehicle producer’s stock worth $846,000 after purchasing an additional 101 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Tesla by 6.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 23,816 shares of the electric vehicle producer’s stock worth $9,618,000 after purchasing an additional 1,379 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in Tesla in the 4th quarter worth about $506,000. Pinion Investment Advisors LLC raised its stake in Tesla by 11.6% in the 4th quarter. Pinion Investment Advisors LLC now owns 11,791 shares of the electric vehicle producer’s stock worth $4,762,000 after purchasing an additional 1,222 shares in the last quarter. Finally, GR Financial Group LLC acquired a new stake in Tesla in the 4th quarter worth about $665,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 4.4 %

NASDAQ:TSLA opened at $272.11 on Wednesday. The firm’s fifty day moving average is $378.63 and its 200-day moving average is $318.40. 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 firm has a market cap of $875.24 billion, a P/E ratio of 133.39, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,996 shares of company stock valued at $118,467,387. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on TSLA. Wedbush set a $302.80 target price on shares of Tesla in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $315.33.

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.