Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,026,158 shares of the electric vehicle producer’s stock after selling 167,966 shares during the quarter. Tesla makes up about 1.3% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 10th largest position. Bank of New York Mellon Corp owned 0.53% of Tesla worth $6,875,844,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Swedbank AB grew its stake in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the period. Foundation Wealth Management LLC bought a new stake in Tesla in the third quarter valued at $225,000. GSB Wealth Management LLC acquired a new position in Tesla during the third quarter worth $209,000. JFS Wealth Advisors LLC lifted its holdings in shares of Tesla by 75.1% during the third quarter. JFS Wealth Advisors LLC now owns 2,014 shares of the electric vehicle producer’s stock valued at $527,000 after acquiring an additional 864 shares during the period. Finally, Burr Financial Services LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at $9,892,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Monday, February 10th. Mizuho reiterated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Piper Sandler raised their price target on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. UBS Group boosted their price objective on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $319.57.

Tesla Stock Down 3.0 %

Tesla stock opened at $281.95 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. 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 company has a 50 day moving average of $387.91 and a 200-day moving average of $315.28. The stock has a market capitalization of $906.90 billion, a PE ratio of 138.21, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.