Northstar Asset Management Inc. Sells 3,184 Shares of Tesla, Inc. $TSLA

Key Points

• Northstar Asset Management Inc. significantly reduced its holdings in Tesla, Inc. by 77.9% in the first quarter, leaving it with just 904 shares valued at $234,000.
• Several institutional investors, such as Eagle Capital Management LLC and Brighton Jones LLC, made adjustments to their Tesla stock positions during the fourth quarter, indicating shifting investor interest.
• Tesla missed earnings expectations for the last quarter, reporting $0.40 earnings per share (EPS) against an anticipated $0.43 EPS, with revenue down 11.8% year-over-year.

Northstar Asset Management Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 77.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 904 shares of the electric vehicle producer's stock after selling 3,184 shares during the quarter. Northstar Asset Management Inc.'s holdings in Tesla were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Northern Trust Corp grew its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Goldman Sachs Group Inc. grew its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tesla by 0.7% during the fourth 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 valued at $9,908,828,000 after acquiring an additional 158,697 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Finally, Mizuho lowered 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average price target of $303.31.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock worth $213,126,501 in the last ninety days. Company insiders own 20.70% of the company's stock.

Tesla Stock Down 1.8%

Shares of Tesla stock traded down $5.8530 during midday trading on Wednesday, hitting $323.4570. The company's stock had a trading volume of 69,412,721 shares, compared to its average volume of 105,220,703. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 187.06, a PEG ratio of 11.65 and a beta of 2.33. The stock has a 50-day simple moving average of $321.01 and a 200-day simple moving average of $304.26. 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, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54.

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