Tesla, Inc. (NASDAQ:TSLA) is Rip Road Capital Partners LP’s 8th Largest Position

Rip Road Capital Partners LP cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,936 shares of the electric vehicle producer’s stock after selling 5,364 shares during the quarter. Tesla makes up approximately 5.4% of Rip Road Capital Partners LP’s portfolio, making the stock its 8th biggest holding. Rip Road Capital Partners LP’s holdings in Tesla were worth $6,436,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Wealth Group Ltd. bought a new stake in shares of Tesla in the 4th quarter worth about $275,000. RMR Wealth Builders grew its stake in Tesla by 72.0% in the fourth quarter. RMR Wealth Builders now owns 15,376 shares of the electric vehicle producer’s stock worth $6,209,000 after purchasing an additional 6,439 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Tesla in the fourth quarter worth about $1,361,000. Marcum Wealth LLC increased its holdings in Tesla by 3.0% in the fourth quarter. Marcum Wealth LLC now owns 7,367 shares of the electric vehicle producer’s stock valued at $2,975,000 after buying an additional 213 shares during the last quarter. Finally, TPG Financial Advisors LLC raised its stake in Tesla by 92.0% during the fourth quarter. TPG Financial Advisors LLC now owns 1,864 shares of the electric vehicle producer’s stock valued at $753,000 after buying an additional 893 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 4.1%

TSLA opened at $347.68 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $1.12 trillion, a PE ratio of 170.43, a P/E/G ratio of 5.86 and a beta of 2.43. The stock’s fifty day moving average is $262.55 and its 200-day moving average is $328.41. Tesla, Inc. has a one year low of $167.41 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 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, May 9th. The stock was sold at an average price of $300.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $8,085,000. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock worth $115,600,501 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Cantor Fitzgerald lowered their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Bank of America dropped their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $287.46.

About Tesla

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.