Tesla, Inc. (NASDAQ:TSLA) Stock Position Lessened by Bridges Investment Management Inc.

Bridges Investment Management Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,625 shares of the electric vehicle producer’s stock after selling 287 shares during the quarter. Bridges Investment Management Inc.’s holdings in Tesla were worth $5,098,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Maia Wealth LLC grew its stake in shares of Tesla by 26.5% in the fourth quarter. Maia Wealth LLC now owns 3,530 shares of the electric vehicle producer’s stock worth $1,402,000 after purchasing an additional 739 shares in the last quarter. BlueStem Wealth Partners LLC bought a new position in shares of Tesla in the fourth quarter worth $1,878,000. Hickory Point Bank & Trust bought a new position in Tesla during the fourth quarter valued at about $528,000. Purkiss Capital Advisors LLC bought a new position in Tesla during the fourth quarter valued at about $1,037,000. Finally, Sherman Asset Management Inc. bought a new position in Tesla during the fourth quarter valued at about $1,461,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA opened at $284.65 on Tuesday. The firm has a market capitalization of $915.58 billion, a P/E ratio of 139.53, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock’s 50 day moving average price is $382.44 and its two-hundred day moving average price is $318.01. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Mizuho reaffirmed an “outperform” rating and set a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and raised their target price for the company from $400.00 to $490.00 in a research note on Tuesday, January 7th. Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $318.77.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 403,996 shares of company stock worth $153,721,387. 20.70% of the stock is currently owned by company insiders.

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.