Northside Capital Management LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Northside Capital Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 65.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 983 shares of the electric vehicle producer's stock after selling 1,865 shares during the period. Northside Capital Management LLC's holdings in Tesla were worth $255,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC raised its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% in 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 last quarter. GS Investments Inc. grew its position in Tesla by 193.3% during the 4th 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 last quarter. Navigoe LLC acquired a new stake in Tesla during the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla during the fourth quarter worth $38,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. The trade was a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Gebbia bought 4,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the transaction, the director now directly owns 4,111 shares of the company's stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TSLA shares. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Piper Sandler set a $400.00 price target on Tesla in a research note on Tuesday, May 6th. Robert W. Baird decreased their price target on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Raymond James lowered shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $294.27.

Tesla Trading Up 4.1%

Tesla stock traded up $11.62 during mid-day trading on Friday, hitting $296.32. 138,306,792 shares of the stock were exchanged, compared to its average volume of 109,076,523. The stock has a market capitalization of $954.44 billion, a price-to-earnings ratio of 145.23, a PEG ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm's fifty day simple moving average is $291.63 and its two-hundred day simple moving average is $333.97. 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 quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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.