Federated Hermes Inc. Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Federated Hermes Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 50.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,019 shares of the electric vehicle producer’s stock after selling 41,489 shares during the quarter. Federated Hermes Inc.’s holdings in Tesla were worth $10,192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the 4th quarter valued at $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at $25,000. Mendota Financial Group LLC raised its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. Ogorek Anthony Joseph NY ADV raised its holdings in shares of Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Cordant Inc. acquired a new stake in shares of Tesla in the 3rd quarter valued at $53,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 1.9 %

TSLA stock opened at $144.68 on Wednesday. The company has a market cap of $460.78 billion, a P/E ratio of 33.57, a P/E/G ratio of 3.75 and a beta of 2.39. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company’s 50-day moving average price is $176.81 and its 200 day moving average price is $209.24. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 EPS. On average, research analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $195.00 in a research note on Tuesday, February 6th. The Goldman Sachs Group cut their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. HSBC cut their price target on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 3rd. Finally, UBS Group cut their price target on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $194.33.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 20.90% 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.