Tesla, Inc. (NASDAQ:TSLA) Shares Sold by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC reduced its holdings in Tesla, Inc. by 6.7%, owning 55,688 shares worth $14.43 million after selling 4,004 shares in the first quarter.
• Several other institutional investors have changed their positions in Tesla, with Eagle Capital Management and Brighton Jones being notable examples of new investments and increased holdings respectively.
• Tesla's latest earnings report revealed a missed EPS estimate of $0.40 compared to the expected $0.43, along with a revenue decline of 11.8% year-over-year.

NorthRock Partners LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,688 shares of the electric vehicle producer's stock after selling 4,004 shares during the period. NorthRock Partners LLC's holdings in Tesla were worth $14,432,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rinkey Investments lifted its holdings in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after acquiring an additional 29 shares during the last quarter. True Wealth Design LLC raised its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the period. Aldebaran Financial Inc. grew its holdings in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares during the period. Acorn Wealth Advisors LLC increased its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc raised its holdings in Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after buying an additional 38 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 723,119 shares of company stock valued at $247,324,149 in the last 90 days. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Piper Sandler reissued an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Finally, Mizuho cut their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $303.31.

Tesla Stock Down 0.7%

TSLA traded down $2.16 on Wednesday, reaching $319.04. The company's stock had a trading volume of 83,592,884 shares, compared to its average volume of 92,156,024. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.42, a P/E/G ratio of 11.28 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $323.61 and a two-hundred day moving average of $313.14.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.