Tesla, Inc. (NASDAQ:TSLA) Stock Position Raised by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 205.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 317,650 shares of the electric vehicle producer’s stock after acquiring an additional 213,613 shares during the quarter. Federated Hermes Inc.’s holdings in Tesla were worth $128,280,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. increased 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 worth $36,000 after buying an additional 58 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the 4th quarter valued at about $38,000. Delos Wealth Advisors LLC raised its position in shares of Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC bought a new stake in Tesla during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price objective on Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research report on Thursday. Glj Research reissued a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $425.00 price objective on shares of Tesla in a research note on Thursday. The Goldman Sachs Group decreased their target price on Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus reduced their target price on shares of Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $312.65.

Tesla Stock Down 10.4 %

TSLA stock opened at $239.43 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a market cap of $770.13 billion, a price-to-earnings ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $305.98 and a two-hundred day moving average price of $323.56.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s 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 directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. 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 quarter. Company insiders own 20.70% of the company’s stock.

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.