Newbridge Financial Services Group Inc. Has $8.61 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Newbridge Financial Services Group Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 12.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,316 shares of the electric vehicle producer’s stock after selling 3,054 shares during the quarter. Tesla accounts for about 2.2% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 5th largest holding. Newbridge Financial Services Group Inc.’s holdings in Tesla were worth $8,608,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter valued at about $29,000. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. raised its position in Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares during the last quarter. Finley Financial LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $64,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Tesla by 136.4% in the third quarter. Abich Financial Wealth Management LLC now owns 305 shares of the electric vehicle producer’s stock worth $80,000 after acquiring an additional 176 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 635,776 shares of company stock valued at $231,335,112. 20.70% of the stock is owned by insiders.

Tesla Stock Up 2.4 %

NASDAQ:TSLA opened at $336.51 on Thursday. The company’s 50 day moving average is $407.68 and its two-hundred day moving average is $306.23. The company has a market cap of $1.08 trillion, a PE ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. 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 (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. Analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday. Mizuho restated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a report on Wednesday. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $326.50.

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.