Northstar Advisory Group LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Northstar Advisory Group LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,835 shares of the electric vehicle producer’s stock after selling 3,949 shares during the quarter. Tesla comprises 1.2% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 25th largest position. Northstar Advisory Group LLC’s holdings in Tesla were worth $1,947,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TSLA. Axiom Financial Strategies LLC boosted its position in shares of Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after buying an additional 164,789 shares during the last quarter. MAS Advisors LLC lifted its position in Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after purchasing an additional 81 shares during the last quarter. Ergoteles LLC lifted its position in Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after purchasing an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,631,600. The disclosure for this sale can be found here. Insiders sold 198,598 shares of company stock worth $36,952,434 in the last quarter. 20.90% of the stock is owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $177.03 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29. The stock has a 50-day moving average price of $188.49 and a 200 day moving average price of $222.36. The stock has a market capitalization of $563.80 billion, a P/E ratio of 41.72, a P/E/G ratio of 4.01 and a beta of 2.41.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on TSLA shares. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Monday. Wedbush reduced their target price on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays reduced their target price on Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $218.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, China Renaissance assumed coverage on Tesla in a research note on Monday, February 26th. They issued a “hold” rating on the stock. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $204.63.

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.