NorthRock Partners LLC Has $24.09 Million Position in Tesla, Inc. (NASDAQ:TSLA)

NorthRock Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 244.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,662 shares of the electric vehicle producer’s stock after buying an additional 42,344 shares during the quarter. Tesla accounts for approximately 0.8% of NorthRock Partners LLC’s holdings, making the stock its 21st largest holding. NorthRock Partners LLC’s holdings in Tesla were worth $24,094,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wealth Group Ltd. acquired a new position in shares of Tesla during the fourth quarter worth about $275,000. RMR Wealth Builders increased its holdings in shares of Tesla by 72.0% during the 4th quarter. RMR Wealth Builders now owns 15,376 shares of the electric vehicle producer’s stock worth $6,209,000 after acquiring an additional 6,439 shares during the last quarter. Claro Advisors LLC raised its position in shares of Tesla by 4.3% in the fourth quarter. Claro Advisors LLC now owns 15,394 shares of the electric vehicle producer’s stock valued at $6,217,000 after purchasing an additional 637 shares during the period. Marshall & Sullivan Inc. WA bought a new position in Tesla in the 4th quarter valued at about $303,000. Finally, Persium Advisors LLC acquired a new stake in Tesla during the 4th quarter worth approximately $201,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $8,085,000. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,623 shares of company stock worth $115,600,501. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Benchmark reissued a “buy” rating and issued a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $287.46.

Tesla Stock Up 4.9%

TSLA opened at $334.07 on Wednesday. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 163.76, a PEG ratio of 5.86 and a beta of 2.43. The company’s 50-day moving average is $260.85 and its 200 day moving average is $328.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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