Bayesian Capital Management LP Sells 51,600 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bayesian Capital Management LP reduced its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 87.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,600 shares of the electric vehicle producer's stock after selling 51,600 shares during the period. Bayesian Capital Management LP's holdings in Tesla were worth $3,069,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC lifted its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp raised its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TSLA shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Barclays dropped their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Guggenheim reiterated a "sell" rating and set a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $287.46.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $284.40, for a total value of $1,137,600.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at $7,664,580. This trade represents a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,228 shares of company stock worth $111,181,034. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of Tesla stock traded down $4.91 during trading hours on Tuesday, reaching $275.35. The company's stock had a trading volume of 75,270,716 shares, compared to its average volume of 95,824,794. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The firm has a 50 day moving average price of $258.60 and a 200-day moving average price of $326.33. The stock has a market cap of $886.89 billion, a P/E ratio of 134.98, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the firm posted $0.45 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 EPS 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.