Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Tesla, Inc. by 1.0%, now owning 320,710 shares valued at approximately $83.1 million as of the end of the first quarter.
• Several institutional investors have also increased their holdings in Tesla, with Geode Capital Management LLC reporting a 2.8% increase, and FMR LLC showing a notable 40.1% increase in the fourth quarter.
• Tesla's latest quarterly earnings report showed an EPS of $0.40, missing the consensus estimate of $0.43, and a year-over-year revenue decline of 11.8%.

Federated Hermes Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 320,710 shares of the electric vehicle producer's stock after buying an additional 3,060 shares during the period. Federated Hermes Inc.'s holdings in Tesla were worth $83,115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the first quarter worth approximately $27,000. Finally, True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% 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 Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 719,119 shares of company stock valued at $246,186,549. Insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSLA. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research note on Tuesday. Finally, Piper Sandler restated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

Shares of Tesla stock traded down $5.64 during midday trading on Friday, hitting $302.63. The company had a trading volume of 88,785,612 shares, compared to its average volume of 107,919,883. The stock has a market cap of $976.12 billion, a price-to-earnings ratio of 174.93, a PEG ratio of 11.21 and a beta of 2.39. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $322.96 and a 200 day simple moving average of $312.48.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, analysts predict 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.