Accredited Investors Inc. Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Accredited Investors Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,828 shares of the electric vehicle producer’s stock after selling 811 shares during the quarter. Accredited Investors Inc.’s holdings in Tesla were worth $2,758,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Principal Financial Group Inc. increased its position in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. MidWestOne Financial Group Inc. grew its stake in shares of Tesla by 7.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 3,562 shares of the electric vehicle producer’s stock worth $932,000 after purchasing an additional 244 shares during the period. Chiron Investment Management LLC increased its holdings in Tesla by 63.9% in the third quarter. Chiron Investment Management LLC now owns 6,130 shares of the electric vehicle producer’s stock valued at $1,604,000 after buying an additional 2,389 shares in the last quarter. Continental Investors Services Inc. raised its holdings in Tesla by 0.4% during the third quarter. Continental Investors Services Inc. now owns 11,295 shares of the electric vehicle producer’s stock worth $2,914,000 after purchasing an additional 49 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Tesla by 52.5% during the 3rd quarter. Toronto Dominion Bank now owns 1,691,928 shares of the electric vehicle producer’s stock worth $442,659,000 after buying an additional 582,738 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA opened at $260.01 on Thursday. The business has a 50 day moving average price of $290.62 and a two-hundred day moving average price of $323.14. The company has a market capitalization of $836.33 billion, a price-to-earnings ratio of 127.46, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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%. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Benchmark cut their price objective on Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday. Guggenheim lowered their price target on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a report on Wednesday, March 12th. The Goldman Sachs Group reduced their target price on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Wedbush reduced their price target on Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a report on Monday. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned 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 $299.68.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by corporate insiders.

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.