Tesla, Inc. (NASDAQ:TSLA) Shares Sold by North Star Asset Management Inc.

North Star Asset Management Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,139 shares of the electric vehicle producer’s stock after selling 1,994 shares during the period. North Star Asset Management Inc.’s holdings in Tesla were worth $2,075,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Invst LLC boosted its stake in shares of Tesla by 8.7% during the 4th quarter. Invst LLC now owns 3,657 shares of the electric vehicle producer’s stock worth $1,477,000 after purchasing an additional 294 shares during the last quarter. Cache Advisors LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $8,462,000. GF Fund Management CO. LTD. acquired a new stake in shares of Tesla during the 4th quarter worth about $170,808,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Tesla during the 4th quarter worth about $1,249,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Tesla during the 4th quarter worth about $363,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,623 shares of company stock worth $116,650,831. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $339.34 on Friday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm’s 50-day simple moving average is $277.33 and its 200 day simple moving average is $333.00. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.09 trillion, a P/E ratio of 166.34, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Robert W. Baird cut their price objective on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, Mizuho increased their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $293.97.

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.