Accredited Investors Inc. Sells 811 Shares of Tesla, Inc. (NASDAQ:TSLA)

Accredited Investors Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,828 shares of the electric vehicle producer’s stock after selling 811 shares during the quarter. Accredited Investors Inc.’s holdings in Tesla were worth $2,758,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TSLA. Norges Bank purchased a new position in Tesla in the 4th quarter worth $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after buying an additional 4,374,746 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 4.5 %

TSLA stock opened at $260.01 on Thursday. 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 has a market cap of $836.33 billion, a price-to-earnings ratio of 127.46, a P/E/G ratio of 5.86 and a beta of 2.58. The business’s 50-day moving average is $290.62 and its two-hundred day moving average is $323.14. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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 forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred 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 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 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 the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Mizuho decreased their price target on shares of Tesla from $430.00 to $375.00 and set an “outperform” rating on the stock in a research note on Thursday. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Wedbush dropped their target price on Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a report on Monday. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $299.68.

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.