Riggs Asset Managment Co. Inc. Acquires 4,913 Shares of Tesla, Inc. $TSLA

Riggs Asset Managment Co. Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 85.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,662 shares of the electric vehicle producer’s stock after acquiring an additional 4,913 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Tesla were worth $4,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chapman Financial Group LLC purchased a new stake in shares of Tesla during the 2nd quarter valued at $26,000. Manning & Napier Advisors LLC purchased a new position in shares of Tesla in the 3rd quarter worth about $29,000. CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 2nd quarter worth about $30,000. ESL Trust Services LLC grew its position in Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the period. Finally, Delos Wealth Advisors LLC purchased a new stake in Tesla during the second quarter worth about $32,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the transaction, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. This represents a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 145,188 shares of company stock valued at $64,193,919 over the last three months. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. The Goldman Sachs Group reiterated a “neutral” rating and issued a $405.00 target price on shares of Tesla in a research note on Thursday, January 29th. Wedbush restated an “outperform” rating and set a $600.00 price target on shares of Tesla in a research note on Thursday, January 29th. HSBC reaffirmed a “reduce” rating on shares of Tesla in a report on Monday, November 17th. JPMorgan Chase & Co. reduced their price objective on Tesla from $150.00 to $145.00 and set an “underweight” rating for the company in a report on Friday, January 30th. Finally, Stifel Nicolaus set a $508.00 target price on Tesla in a research report on Thursday, January 29th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $406.84.

Tesla Stock Performance

Shares of TSLA stock opened at $396.73 on Friday. The firm’s 50 day moving average is $425.17 and its 200 day moving average is $423.32. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 367.34, a PEG ratio of 11.73 and a beta of 1.89. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $498.83. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $24.90 billion during the quarter, compared to analyst estimates of $24.75 billion. During the same period in the previous year, the business earned $0.73 EPS. Tesla’s revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Higher oil/gas prices make EV ownership relatively more attractive, which could support Tesla vehicle demand and margins in coming months. Oil prices are surging. Will that help Tesla and others sell more EVs?
• Positive Sentiment: February Europe registrations rose ~10% for Tesla in some reporting, showing pockets of demand resilience despite competitive pressure. Tesla’s Europe registrations rise 10% in February despite sales drops in key markets
• Positive Sentiment: Bank of America issued a buy/upgrade view on Tesla (along with legacy automakers), citing opportunities such as robotaxi upside that could support a longer‑term recovery in sentiment. BofA Upgrades Ford (F), Tesla (TSLA), and GM (GM) Stock: What Investors Need to Know
• Neutral Sentiment: Tesla filed a new patent suggesting a bold seat design for the next‑gen Roadster — an innovation signal but not an immediate revenue driver. Tesla Patent Points to Bold New Seat Design for Next-Gen Roadster
• Negative Sentiment: BYD unveiled ultra‑fast charging tech (claims of near‑full in ~9 minutes), which threatens Tesla’s Supercharger competitive edge and raises execution/market‑share risk. BYD Needs Just 9 Minutes To Challenge Tesla’s Last Great Advantage
• Negative Sentiment: UK sales plunged ~37% year‑over‑year in February, underscoring uneven regional recovery and intensifying competitive pressure from Chinese EV makers. Tesla UK car sales drop 37% as Chinese competition heightens, SMMT data shows
• Negative Sentiment: Analyst action and option‑market signals are bearish: BNP Paribas/Exane cut TSLA targets and near‑term put premiums are elevated, implying hedging/short interest and potential selling pressure. BNP Paribas Exane Cuts Tesla (NASDAQ:TSLA) Price Target to $280.00

About Tesla

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.