Alerus Financial NA Cuts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Alerus Financial NA decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 41,965 shares of the electric vehicle producer's stock after selling 3,957 shares during the period. Tesla makes up approximately 1.3% of Alerus Financial NA's investment portfolio, making the stock its 16th largest holding. Alerus Financial NA's holdings in Tesla were worth $16,947,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. lifted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter worth about $38,000. Cyrus J. Lawrence LLC purchased a new position in shares of Tesla during the 4th quarter valued at about $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last three months. 20.70% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several research firms have recently weighed in on TSLA. Bank of America cut their target price on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Roth Mkm upgraded Tesla from a "neutral" rating to a "buy" rating and lifted their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Robert W. Baird lowered their price target on Tesla from $440.00 to $370.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Morgan Stanley decreased their target price on Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Finally, Glj Research reissued a "buy" rating on shares of Tesla in a report on Tuesday, March 11th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $317.75.

Tesla Stock Down 3.2 %

Shares of Tesla stock traded down $8.53 during trading on Monday, hitting $255.02. 74,281,055 shares of the stock were exchanged, compared to its average volume of 93,158,416. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm's 50-day moving average price is $321.33 and its 200 day moving average price is $323.01. The stock has a market cap of $820.29 billion, a price-to-earnings ratio of 125.35, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.