NorthCrest Asset Manangement LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

NorthCrest Asset Manangement LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,989 shares of the electric vehicle producer's stock after purchasing an additional 3,224 shares during the period. NorthCrest Asset Manangement LLC's holdings in Tesla were worth $4,842,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC purchased a new position in shares of Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the fourth quarter valued at approximately $38,000. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 984,783 shares of company stock valued at $320,019,942 over the last ninety days. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. UBS Group reduced their price target on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Argus set a $410.00 price objective on Tesla in a research note on Thursday, April 24th. Wells Fargo & Company cut their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $293.97.

Tesla Trading Down 2.6%

TSLA traded down $9.34 on Friday, hitting $349.09. 122,996,137 shares of the company were exchanged, compared to its average volume of 98,033,976. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a fifty day simple moving average of $286.92 and a two-hundred day simple moving average of $333.95. The stock has a market capitalization of $1.12 trillion, a PE ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business posted $0.45 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.