Norden Group LLC Has $4.97 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Norden Group LLC has increased its stake in Tesla by 25.2%, now holding 19,181 shares valued at approximately $4.97 million.
• Major institutional investors have also increased their holdings in Tesla, with Geode Capital Management raising its stake by 2.8% and FMR LLC by 40.1% in the last quarter.
• Analysts have varied ratings for Tesla, with Bank of America setting a new price target of $341 while the average market rating is currently a "Hold" with a target price of $302.75.

Norden Group LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,181 shares of the electric vehicle producer's stock after purchasing an additional 3,866 shares during the quarter. Norden Group LLC's holdings in Tesla were worth $4,971,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TSLA. Geode Capital Management LLC raised its holdings 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 worth $24,566,217,000 after acquiring an additional 1,655,203 shares in the last quarter. FMR LLC grew its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Northern Trust Corp increased its position 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 purchasing an additional 5,075,418 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after purchasing an additional 158,697 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Tesla by 19.8% in the fourth 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. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on TSLA shares. Bank of America increased their price target on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a report on Tuesday, July 22nd. Morgan Stanley restated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Finally, William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $302.75.

Tesla Stock Up 3.5%

Shares of NASDAQ:TSLA opened at $316.06 on Monday. The firm has a market cap of $1.02 trillion, a P/E ratio of 182.69, a P/E/G ratio of 9.93 and a beta of 2.39. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The business has a fifty day simple moving average of $324.70 and a 200 day simple moving average of $313.53. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by insiders.

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.

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