Emerald Mutual Fund Advisers Trust Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Emerald Mutual Fund Advisers Trust lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 597 shares of the electric vehicle producer’s stock after selling 134 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Tesla were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. raised its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC grew its position in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank purchased a new position in Tesla in the fourth quarter valued at $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 2.2 %

NASDAQ:TSLA opened at $292.03 on Wednesday. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The stock’s fifty day moving average is $261.24 and its two-hundred day moving average is $323.87. The stock has a market capitalization of $939.32 billion, a price-to-earnings ratio of 143.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TSLA shares. Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Argus set a $410.00 target price on Tesla in a research report on Thursday, April 24th. Canaccord Genuity Group cut their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Glj Research reaffirmed a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $287.46.

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.