Stonebrook Private Inc. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Stonebrook Private Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,350 shares of the electric vehicle producer’s stock after purchasing an additional 534 shares during the period. Stonebrook Private Inc.’s holdings in Tesla were worth $1,353,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of 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 valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s 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 completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,623 shares of company stock valued at $115,600,501. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. UBS Group dropped their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Robert W. Baird dropped their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Benchmark reiterated a “buy” rating and set a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $289.43.

Tesla Price Performance

Tesla stock opened at $349.98 on Friday. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 171.56, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm has a 50-day moving average of $267.35 and a two-hundred day moving average of $330.09.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the firm earned $0.45 earnings per share. On average, research analysts forecast 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.