Northern Trust Corp lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,822,667 shares of the electric vehicle producer’s stock after selling 1,720,157 shares during the quarter. Tesla comprises 1.2% of Northern Trust Corp’s investment portfolio, making the stock its 9th largest position. Northern Trust Corp owned about 0.81% of Tesla worth $6,416,416,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of TSLA. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at about $7,844,757,000. International Assets Investment Management LLC boosted its position in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. lifted its position in Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the last quarter. Morgan Stanley lifted its position in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Finally, Winslow Capital Management LLC lifted its position in Tesla by 215.1% in the 4th quarter. Winslow Capital Management LLC now owns 1,307,727 shares of the electric vehicle producer’s stock worth $324,944,000 after buying an additional 892,644 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.
Insider Transactions at Tesla
In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders sold 197,910 shares of company stock valued at $35,612,012 in the last quarter. 25.10% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. UBS Group decreased their price target on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Wells Fargo & Company reduced their target price on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Wedbush reissued an “outperform” rating and set a $275.00 target price on shares of Tesla in a research note on Monday, April 29th. Finally, Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $185.90.
Get Our Latest Stock Report on Tesla
Tesla Trading Down 0.2 %
TSLA traded down $0.39 during trading on Friday, hitting $177.55. 13,214,562 shares of the stock were exchanged, compared to its average volume of 97,124,328. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a 50 day simple moving average of $172.15 and a 200 day simple moving average of $198.16. The firm has a market cap of $566.24 billion, a price-to-earnings ratio of 44.98, a P/E/G ratio of 4.31 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. As a group, equities analysts expect that Tesla, Inc. will post 1.88 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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tesla, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Tesla wasn’t on the list.
While Tesla currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Wondering when you’ll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
