Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Hudson Canyon Capital Management

Hudson Canyon Capital Management cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,450 shares of the electric vehicle producer’s stock after selling 730 shares during the period. Tesla accounts for about 2.0% of Hudson Canyon Capital Management’s holdings, making the stock its 13th biggest position. Hudson Canyon Capital Management’s holdings in Tesla were worth $3,009,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB grew its stake in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Courier Capital LLC purchased a new stake in Tesla during the 3rd quarter worth $262,000. YHB Investment Advisors Inc. boosted its position in Tesla by 16.7% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,613 shares of the electric vehicle producer’s stock worth $684,000 after purchasing an additional 374 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Tesla by 34.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after purchasing an additional 1,059 shares during the period. Finally, Bogart Wealth LLC boosted its position in Tesla by 80.3% during the 3rd quarter. Bogart Wealth LLC now owns 2,324 shares of the electric vehicle producer’s stock worth $608,000 after purchasing an additional 1,035 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $337.80 on Friday. 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 firm’s 50-day moving average price is $400.17 and its two-hundred day moving average price is $312.40. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.97 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on TSLA shares. Robert W. Baird decreased their price target on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Piper Sandler upped their price target on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, UBS Group upped their price target on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $326.50.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by company insiders.

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.