Northstar Group Inc. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Northstar Group Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 976 shares of the electric vehicle producer’s stock after selling 100 shares during the quarter. Northstar Group Inc.’s holdings in Tesla were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Cypress Wealth Services LLC raised its stake in shares of Tesla by 4.6% during the third quarter. Cypress Wealth Services LLC now owns 10,865 shares of the electric vehicle producer’s stock valued at $2,843,000 after acquiring an additional 474 shares in the last quarter. Morton Capital Management LLC CA increased its holdings in Tesla by 71.9% during the 3rd quarter. Morton Capital Management LLC CA now owns 2,178 shares of the electric vehicle producer’s stock worth $570,000 after purchasing an additional 911 shares during the period. Sanders Morris Harris LLC raised its position in Tesla by 20.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 1,790 shares of the electric vehicle producer’s stock valued at $468,000 after purchasing an additional 299 shares in the last quarter. Kelly Financial Services LLC lifted its holdings in shares of Tesla by 7.3% in the 3rd quarter. Kelly Financial Services LLC now owns 1,118 shares of the electric vehicle producer’s stock worth $293,000 after buying an additional 76 shares during the period. Finally, Heritage Wealth Partners LLC purchased a new position in shares of Tesla during the third quarter valued at $678,000. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

TSLA stock traded down $5.39 during trading on Thursday, hitting $235.66. 24,478,064 shares of the company traded hands, compared to its average volume of 94,628,891. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The stock’s 50-day simple moving average is $224.79 and its 200 day simple moving average is $203.05. The company has a market cap of $752.85 billion, a PE ratio of 61.49, a P/E/G ratio of 6.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. HSBC increased their target price on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their target price for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, TD Cowen boosted their price target on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $210.90.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last ninety days. 25.10% of the stock is currently owned by corporate 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.