Hyperion Asset Management Ltd Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Hyperion Asset Management Ltd cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,170,424 shares of the electric vehicle producer's stock after selling 381,513 shares during the period. Tesla makes up 15.7% of Hyperion Asset Management Ltd's holdings, making the stock its largest position. Hyperion Asset Management Ltd's holdings in Tesla were worth $472,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC boosted its holdings in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of 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 buying an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. The trade was a 20.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,623 shares of company stock worth $114,400,501. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 1.5%

Tesla stock traded up $4.78 during trading hours on Tuesday, hitting $323.16. The stock had a trading volume of 26,383,640 shares, compared to its average volume of 96,066,438. The business's 50 day simple moving average is $259.44 and its 200-day simple moving average is $328.24. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 158.31, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Benchmark reiterated a "buy" rating and issued a $350.00 target price on shares of Tesla in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Argus set a $410.00 price target on Tesla in a research note on Thursday, April 24th. Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, StockNews.com cut shares of Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $287.46.

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.