Newbridge Financial Services Group Inc. Sells 3,054 Shares of Tesla, Inc. (NASDAQ:TSLA)

Newbridge Financial Services Group Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,316 shares of the electric vehicle producer’s stock after selling 3,054 shares during the period. Tesla accounts for about 2.2% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 5th biggest holding. Newbridge Financial Services Group Inc.’s holdings in Tesla were worth $8,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. World Investment Advisors LLC grew its position in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Stephens Consulting LLC boosted its position in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. The Goldman Sachs Group lifted their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a report on Thursday, October 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $440.00 price objective on shares of Tesla in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $326.50.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 635,776 shares of company stock worth $231,335,112. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

TSLA opened at $336.51 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $1.08 trillion, a PE ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s 50 day simple moving average is $407.68 and its 200 day simple moving average is $306.23.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts expect that Tesla, Inc. will post 2.54 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.