Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Alerus Financial NA

Alerus Financial NA reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 8.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 41,965 shares of the electric vehicle producer’s stock after selling 3,957 shares during the quarter. Tesla comprises about 1.3% of Alerus Financial NA’s holdings, making the stock its 16th largest position. Alerus Financial NA’s holdings in Tesla were worth $16,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. World Investment Advisors LLC lifted its holdings in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management boosted its position in shares of Tesla by 12.1% in the third 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. Stephens Consulting LLC grew its holdings 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 worth $644,000 after purchasing an additional 891 shares during the period. Vinva Investment Management Ltd raised its position in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the period. Finally, MML Investors Services LLC grew its holdings in Tesla by 3.3% during the 3rd 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 in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Tesla stock opened at $273.13 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization 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 current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s 50 day simple moving average is $324.59 and its 200 day simple moving average is $321.35.

Tesla (NASDAQ:TSLA) last issued 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%. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated 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 completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 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 research analysts recently commented on the company. Barclays upped their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $319.12.

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.