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

Federated Hermes Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 50.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,019 shares of the electric vehicle producer’s stock after selling 41,489 shares during the period. Federated Hermes Inc.’s holdings in Tesla were worth $10,192,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.6% in the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the period. Morgan Stanley increased its holdings in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the period. FMR LLC increased its holdings in shares of Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after buying an additional 269,182 shares during the period. Northern Trust Corp increased its holdings in Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tesla by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock valued at $3,677,502,000 after purchasing an additional 496,299 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft downgraded Tesla from a “buy” rating to a “hold” rating and reduced their price target for the company from $189.00 to $123.00 in a report on Thursday, April 18th. UBS Group reduced their price target on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Truist Financial reduced their price target on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday, April 3rd. Guggenheim restated a “sell” rating and set a $122.00 price target on shares of Tesla in a report on Tuesday. Finally, Sanford C. Bernstein reduced their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $194.33.

Tesla Trading Up 1.9 %

NASDAQ:TSLA opened at $144.68 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market capitalization of $460.78 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.75 and a beta of 2.39. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The business has a fifty day moving average price of $176.81 and a 200-day moving average price of $209.24.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion during 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 company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.07 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.97 EPS for the current 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.