Atalanta Sosnoff Capital LLC Sells 1,192 Shares of Tesla, Inc. (NASDAQ:TSLA)

Atalanta Sosnoff Capital LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 191,653 shares of the electric vehicle producer's stock after selling 1,192 shares during the period. Tesla accounts for approximately 1.7% of Atalanta Sosnoff Capital LLC's portfolio, making the stock its 20th largest holding. Atalanta Sosnoff Capital LLC's holdings in Tesla were worth $77,397,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the fourth 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 increased its holdings 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 worth $3,497,526,000 after buying an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Tesla by 4,963.0% in 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 acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp increased its stake 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 during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 486,618 shares of company stock worth $155,887,459 in the last 90 days. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Wedbush reissued an "outperform" rating and set a $350.00 price objective on shares of Tesla in a research note on Thursday. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Benchmark restated a "buy" rating and issued a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $287.46.

Tesla Trading Up 2.4 %

Tesla stock traded up $6.69 during trading on Friday, reaching $287.21. The company had a trading volume of 113,968,586 shares, compared to its average volume of 95,860,479. The stock's 50 day moving average price is $258.82 and its two-hundred day moving average price is $325.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The firm has a market capitalization of $925.09 billion, a price-to-earnings ratio of 140.79, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates 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. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.