White Pine Capital LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

White Pine Capital LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,515 shares of the electric vehicle producer’s stock after selling 686 shares during the quarter. White Pine Capital LLC’s holdings in Tesla were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Wyrmwood Management LLC purchased a new stake in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC increased its holdings in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Finally, Cordant Inc. bought a new position in Tesla in the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSLA shares. UBS Group dropped their price target on Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday. Redburn Atlantic started coverage on Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target for the company. Canaccord Genuity Group dropped their price target on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Roth Mkm restated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $186.70.

Tesla Trading Down 1.1 %

TSLA stock traded down $1.89 during midday trading on Friday, reaching $168.29. The company’s stock had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. The stock has a fifty day simple moving average of $175.04 and a two-hundred day simple moving average of $207.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a market capitalization of $536.71 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.45 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.97 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last quarter. Company insiders own 25.10% of the company’s stock.

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.