Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 205.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 317,650 shares of the electric vehicle producer’s stock after purchasing 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. boosted its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in Tesla during the fourth quarter valued at about $38,000. Delos Wealth Advisors LLC increased its stake in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after acquiring an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new position in shares of Tesla in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TSLA shares. Piper Sandler dropped their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Benchmark began coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $425.00 target price on shares of Tesla in a report on Thursday. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Finally, Stifel Nicolaus reduced their price objective on Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Eight investment 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $312.65.

Tesla Stock Down 10.4 %

NASDAQ:TSLA opened at $239.43 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $305.98 and a 200-day moving average of $323.56. The firm has a market capitalization of $770.13 billion, a PE ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

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%. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last 90 days. Corporate 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.