Tesla, Inc. (NASDAQ:TSLA) Shares Sold by DnB Asset Management AS

DnB Asset Management AS decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622,057 shares of the electric vehicle producer’s stock after selling 31,757 shares during the period. Tesla accounts for about 1.1% of DnB Asset Management AS’s investment portfolio, making the stock its 14th largest holding. DnB Asset Management AS’s holdings in Tesla were worth $251,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TSLA. Level Four Advisory Services LLC increased its stake in shares of Tesla by 2.1% during the 4th quarter. Level Four Advisory Services LLC now owns 23,097 shares of the electric vehicle producer’s stock worth $9,327,000 after purchasing an additional 470 shares during the last quarter. NBZ Investment Advisors LLC bought a new position in Tesla in the 4th quarter valued at $503,000. Vertex Planning Partners LLC acquired a new position in shares of Tesla during the 4th quarter worth about $347,000. Slagle Financial LLC bought a new stake in Tesla during the 4th quarter worth approximately $313,000. Finally, denkapparat Operations GmbH bought a new stake in shares of Tesla in the fourth quarter worth $307,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Guggenheim cut their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Evercore ISI lifted their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley reduced their target price on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $319.12.

Tesla Trading Up 0.4 %

TSLA opened at $273.13 on Friday. 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 stock has a market cap of $878.53 billion, a PE ratio of 133.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a fifty day moving average of $324.59 and a 200-day moving average of $321.35. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.