Norden Group LLC Trims Stake in Tesla, Inc. (NASDAQ:TSLA)

Norden Group LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,315 shares of the electric vehicle producer’s stock after selling 38 shares during the quarter. Tesla accounts for about 0.7% of Norden Group LLC’s holdings, making the stock its 28th largest holding. Norden Group LLC’s holdings in Tesla were worth $6,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors LLC boosted its holdings in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management boosted its holdings in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC boosted its holdings in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in Tesla by 3.3% during 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 acquiring an additional 9,919 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TSLA shares. UBS Group increased their target price on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and increased their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a report on Wednesday, January 29th. Finally, Robert W. Baird dropped their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $318.77.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 403,996 shares of company stock worth $153,721,387. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $284.65 on Tuesday. The business’s fifty day simple moving average is $382.44 and its two-hundred day simple moving average is $318.01. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a market cap of $915.58 billion, a price-to-earnings ratio of 139.53, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its earnings results 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.