Hemenway Trust Co LLC Sells 150 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hemenway Trust Co LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,225 shares of the electric vehicle producer’s stock after selling 150 shares during the quarter. Hemenway Trust Co LLC’s holdings in Tesla were worth $495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its position in shares of Tesla by 9.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,210,664 shares of the electric vehicle producer’s stock worth $488,914,000 after purchasing an additional 105,371 shares during the period. Aviva PLC raised its stake in Tesla by 2.0% during the fourth quarter. Aviva PLC now owns 1,738,060 shares of the electric vehicle producer’s stock worth $701,898,000 after buying an additional 34,553 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Tesla during the 4th quarter worth about $2,201,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Tesla in the fourth quarter worth approximately $11,372,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in Tesla in the fourth quarter valued at approximately $358,201,000. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Benchmark started coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Robert W. Baird cut their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned 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.com, Tesla currently has an average rating of “Hold” and a consensus price target of $312.65.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 10.4 %

NASDAQ TSLA opened at $239.43 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market cap of $770.13 billion, a PE ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The company’s 50-day moving average price is $305.98 and its 200-day moving average price is $322.90. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.