Riverbridge Partners LLC Sells 7,641 Shares of Tesla, Inc. (NASDAQ:TSLA)

Riverbridge Partners LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,967 shares of the electric vehicle producer’s stock after selling 7,641 shares during the period. Riverbridge Partners LLC’s holdings in Tesla were worth $86,005,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Echo45 Advisors LLC raised its stake in shares of Tesla by 3.7% during the fourth quarter. Echo45 Advisors LLC now owns 1,240 shares of the electric vehicle producer’s stock worth $509,000 after acquiring an additional 44 shares in the last quarter. True North Advisors LLC raised its position in Tesla by 3.8% in the 4th quarter. True North Advisors LLC now owns 3,468 shares of the electric vehicle producer’s stock worth $1,400,000 after purchasing an additional 127 shares during the period. Independent Wealth Network Inc. lifted its stake in Tesla by 77.2% in the fourth quarter. Independent Wealth Network Inc. now owns 3,381 shares of the electric vehicle producer’s stock worth $1,365,000 after purchasing an additional 1,473 shares during the last quarter. Wesbanco Bank Inc. boosted its position in Tesla by 3.4% during the fourth quarter. Wesbanco Bank Inc. now owns 31,111 shares of the electric vehicle producer’s stock valued at $12,564,000 after buying an additional 1,037 shares during the period. Finally, GoalVest Advisory LLC increased its holdings in shares of Tesla by 30.1% in the fourth quarter. GoalVest Advisory LLC now owns 10,173 shares of the electric vehicle producer’s stock worth $4,108,000 after buying an additional 2,352 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Cantor Fitzgerald raised their price target on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Guggenheim increased their price target on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler raised their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $313.84.

Tesla Trading Down 1.4 %

Shares of NASDAQ:TSLA opened at $406.58 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a market cap of $1.31 trillion, a P/E ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. The stock’s fifty day moving average price is $398.82 and its 200-day moving average price is $294.03.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current year.

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.