Neuberger Berman Group LLC Has $71.61 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Neuberger Berman Group LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,329 shares of the electric vehicle producer’s stock after selling 10,109 shares during the period. Neuberger Berman Group LLC’s holdings in Tesla were worth $71,613,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Navigoe LLC acquired a new position in Tesla in the fourth quarter worth about $37,000. Cherry Tree Wealth Management LLC raised its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 0.4%

TSLA opened at $339.38 on Thursday. The firm’s fifty day moving average is $318.69 and its two-hundred day moving average is $306.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market cap of $1.09 trillion, a PE ratio of 196.17, a price-to-earnings-growth ratio of 11.85 and a beta of 2.33. Tesla, Inc. has a twelve month low of $198.75 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 602,724 shares of company stock valued at $214,176,831 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Cantor Fitzgerald decreased their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. HSBC reaffirmed a “reduce” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Raymond James Financial cut shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $303.31.

Tesla Company 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.