Norden Group LLC Has $1.85 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Norden Group LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,427 shares of the electric vehicle producer’s stock after buying an additional 420 shares during the period. Norden Group LLC’s holdings in Tesla were worth $1,845,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mount Vernon Associates Inc. MD grew its stake in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after buying an additional 350 shares in the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after purchasing an additional 81,729 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $8.72 during trading on Tuesday, hitting $185.33. 96,994,811 shares of the company were exchanged, compared to its average volume of 104,966,266. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The company has a market capitalization of $591.05 billion, a P/E ratio of 47.34, a price-to-earnings-growth ratio of 4.45 and a beta of 2.40. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $174.92 and its 200-day moving average is $206.77.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last 90 days. Insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Citigroup upped their target price on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Mizuho dropped their price target on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Morgan Stanley decreased their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Finally, Evercore ISI reduced their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $184.32.

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.