Norden Group LLC Acquires 420 Shares of Tesla, Inc. (NASDAQ:TSLA)

Norden Group LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,427 shares of the electric vehicle producer’s stock after acquiring an additional 420 shares during the period. Norden Group LLC’s holdings in Tesla were worth $1,845,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its holdings in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. grew its holdings in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after buying an additional 3,453,078 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after acquiring an additional 2,293,344 shares in the last quarter. Morgan Stanley grew its holdings in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Northern Trust Corp increased its position in Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Sanford C. Bernstein reduced their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Evercore ISI reduced their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $184.32.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 in the last three months. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Down 4.5 %

NASDAQ TSLA traded down $8.72 during trading on Tuesday, hitting $185.33. The company’s stock had a trading volume of 96,994,811 shares, compared to its average volume of 104,966,266. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $591.05 billion, a PE ratio of 47.34, a P/E/G ratio of 4.45 and a beta of 2.40. The business’s 50 day simple moving average is $174.92 and its 200-day simple moving average is $206.77.

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.