NorthRock Partners LLC Purchases 42,344 Shares of Tesla, Inc. (NASDAQ:TSLA)

NorthRock Partners LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 244.5% in the 4th quarter, Holdings Channel reports. The fund owned 59,662 shares of the electric vehicle producer’s stock after buying an additional 42,344 shares during the quarter. Tesla accounts for approximately 0.8% of NorthRock Partners LLC’s holdings, making the stock its 21st largest position. NorthRock Partners LLC’s holdings in Tesla were worth $24,094,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Northeast Financial Consultants Inc purchased a new stake in Tesla during the fourth quarter valued at about $275,000. Nuveen Asset Management LLC lifted its stake in shares of Tesla by 19.8% during the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer’s stock valued at $5,294,010,000 after buying an additional 2,170,449 shares in the last quarter. Numerai GP LLC bought a new position in Tesla in the 4th quarter worth approximately $2,875,000. Occudo Quantitative Strategies LP boosted its holdings in Tesla by 90.0% in the 4th quarter. Occudo Quantitative Strategies LP now owns 6,354 shares of the electric vehicle producer’s stock worth $2,566,000 after buying an additional 3,010 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its holdings in Tesla by 9.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 140,237 shares of the electric vehicle producer’s stock valued at $56,633,000 after acquiring an additional 11,791 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of analyst reports. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Robert W. Baird cut their target price on Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Glj Research restated a “sell” rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, UBS Group reduced their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $287.46.

Tesla Trading Up 4.9%

TSLA stock opened at $334.07 on Wednesday. The company has a market capitalization of $1.08 trillion, a PE ratio of 163.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company’s 50 day moving average price is $260.85 and its two-hundred day moving average price is $328.28.

Tesla (NASDAQ:TSLA) last issued 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 business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. This represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,623 shares of company stock valued at $115,600,501. 20.70% of the stock is currently owned by insiders.

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.