North Star Asset Management Inc. Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

North Star Asset Management Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 46.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,590 shares of the electric vehicle producer’s stock after selling 5,608 shares during the period. North Star Asset Management Inc.’s holdings in Tesla were worth $1,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TSLA. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the fourth quarter worth $25,000. Mendota Financial Group LLC increased its position in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV increased its position in shares of Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. increased its position in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Jefferies Financial Group cut their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Canaccord Genuity Group lowered their price target on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Citigroup lowered their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, The Goldman Sachs Group lowered their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $194.70.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now 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 accessible through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction 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 SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 in the last 90 days. Company insiders own 25.10% of the company’s stock.

Tesla Trading Down 4.4 %

Tesla stock traded down $6.54 during trading on Monday, hitting $140.51. The company had a trading volume of 52,301,264 shares, compared to its average volume of 100,943,016. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company’s 50 day simple moving average is $178.51 and its 200-day simple moving average is $210.88. The stock has a market cap of $447.49 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 3.89 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its 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). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the business posted $1.07 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

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.