Emerald Advisers LLC Sells 423 Shares of Tesla, Inc. (NASDAQ:TSLA)

Emerald Advisers LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,013 shares of the electric vehicle producer’s stock after selling 423 shares during the quarter. Emerald Advisers LLC’s holdings in Tesla were worth $813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Swedbank AB boosted its position in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares in the last quarter. United Bank bought a new position in shares of Tesla during the third quarter worth $287,000. Advisors Asset Management Inc. boosted its position in shares of Tesla by 0.9% during the third quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock worth $2,347,000 after purchasing an additional 80 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Tesla by 61.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 115,241 shares of the electric vehicle producer’s stock worth $30,151,000 after purchasing an additional 43,950 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. Morgan Stanley cut their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research report on Monday, March 17th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Finally, Robert W. Baird cut their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Nine equities research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.93.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction 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 represents a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $248.71 on Monday. 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 company has a market capitalization of $799.98 billion, a P/E ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a 50-day moving average price of $335.19 and a two-hundred day moving average price of $321.15.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.